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Congress kicks the can

Congress kicks the can

Blockworks2024/12/19 13:55
By: Blockworks
SOL+0.01%F+71.85%BEN0.00%
Lawmakers now have until Friday to pass the highly-anticipated continuing resolution


This is a segment from the Forward Guidance newsletter. To read full editions, subscribe .

In a real 11-hour move, Congressional leaders have unveiled a stopgap bill to fund the government for three more months. 

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Should it pass, lawmakers will narrowly avoid a government shutdown. However, the new deadline to agree on a budget would come during President-elect Trump’s crucial first 100 days in office. 

Lawmakers now have until Friday to pass the highly-anticipated continuing resolution , all 1,500 pages of it. The House Rules Committee will have to approve a violation of the 72-hour rule, whereby bill text is released three days ahead of a vote. Over in the Senate, unanimous approval is needed to break procedure for passage before the deadline.

As we’ve written about before , Republicans and Democrats largely agree that a CR is the best way (and at this point, the only way) to avert a shutdown.

Some highlights from the bill:

  • $110.4 billion in total disaster aid, most of which would go to southern US states in the wake of hurricanes Milton and Helene. 
  • There’s a provision that would give DC control over Robert F. Kennedy Memorial Stadium, an agreement that would help the District bring the Commanders back to the city. 
  • A 3.8% “cost of living” increase on Congressional salaries, which currently stand at $174,000.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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