House tees up another CR vote
Dec 20, 2024
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The Big Story
House moves on plan C
The House on Friday will try again to avert a government shutdown, holding a vote on a revamped spending package that excludes the debt limit hike initially demanded by President-elect Trump.
© Greg Nash
The package would fund the government at current levels through March 14, extend the farm bill by one year and appropriate billions of dollars in disaster aid and assistance for farmers.
The same provisions were included in Speaker Mike Johnson’s (R-La.) plan B proposal that failed on the House floor Thursday night.
Without congressional action, large parts of the federal government would shut down just after midnight.
Johnson emerged from a tense two-hour GOP conference meeting in the Capitol basement with less than eight hours to go until the deadline to announce the developments and vow there would be no shutdown.
“There is a unanimous agreement in the room that we need to move forward,” he told reporters.
“We will not have a government shutdown,” he continued. “And we will meet our obligations for our farmers who need aid, for the disaster victims all over the country, and for making sure that military and essential services and everyone who relies upon the federal government for a paycheck gets paid over the holidays.”
The House is expected to start voting on the bill between 5 and 5:30 p.m. ET.
The Hill's Mychael Schnell, Mike Lillis and Emily Brooks have more here.
Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley and Taylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.
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Programming Note
The Business & Economy newsletter will be taking a break next week, but we'll be back in your inbox on Dec. 30! Happy Holidays!
Essential Reads
Key business and economic news with implications this week and beyond:
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Watchdog accuses Zelle, banking giants of failing to protect users against fraud
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Biden canceling student loan debt for 55K public service workers
President Biden announced on Friday he would be canceling more student debt for tens of thousands of public service workers, possibly his last major move on the issue before leaving office in a month.
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The Ticker
Upcoming news themes and events we're watching:
Congress is hurtling toward a midnight funding deadline to pass legislation to keep the government open or risk a shutdown.
In Other News
Branch out with more stories from the day:
Stock market today: Wall Street rises to turn a dismal week into just a bad one
NEW YORK (AP) — U.S. stocks rose Friday to turn what would have been one of the market’s worst weeks …
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Good to Know
Business and economic news we've flagged from other outlets:
Thousands of Amazon drivers have gone on strike in the thick of the holiday package season (CNN)
Alabama profits off prisoners who work at McDonald’s but deems them too dangerous for parole (The Associated Press)
What Others are Reading
Top stories on The Hill right now:
Live coverage: House to vote at 5 pm on new effort to prevent shutdown
The House is poised to vote on a measure to keep the government funded past Friday night’s midnight shutdown deadline. Read more
Cavuto ‘not leaving journalism’: ‘I’m just leaving here’
Former Fox News host Neil Cavuto, who recently announced his departure from the network after 28 years, said he wasn’t leaving the industry. Read more
What People Think
Opinions related to business and economic issues submitted to The Hill:
A pragmatic antitrust vision for the new administration
Trump is wrong: Raising tariffs won’t fix the trade deficit
You're all caught up. See you Dec. 30!