Berliner Boersenzeitung - US clears key hurdle in race to avert government shutdown

EUR -
AED 4.067465
AFN 71.990312
ALL 90.627335
AMD 404.431297
ANG 1.982267
AOA 1016.726333
ARS 1710.57938
AUD 1.618319
AWG 1.993581
AZN 1.885599
BAM 1.951914
BBD 2.255104
BDT 139.582093
BGN 1.935801
BHD 0.422399
BIF 3349.448824
BMD 1.107545
BND 1.431386
BOB 13.27906
BRL 6.184308
BSD 1.119667
BTN 105.224999
BWP 15.360735
BYN 3.352428
BYR 21707.879833
BZD 2.25182
CAD 1.579387
CDF 2563.966445
CHF 0.922723
CLF 0.02768
CLP 1089.391844
CNY 7.387712
CNH 7.383974
COP 3633.744028
CRC 506.439696
CUC 1.107545
CUP 26.869503
CVE 110.055817
CZK 24.385893
DJF 199.380138
DKK 7.475377
DOP 67.911228
DZD 151.620647
EGP 59.307255
ERN 16.613173
ETB 182.237045
FJD 2.512077
FKP 0.834016
GBP 0.835438
GEL 2.875558
GGP 0.834016
GHS 13.111375
GIP 0.834016
GMD 81.958112
GNF 9919.191373
GTQ 8.555738
GYD 234.619355
HKD 8.687078
HNL 30.096931
HRK 7.496982
HTG 146.761713
HUF 364.725177
IDR 20197.188604
ILS 3.516289
IMP 0.834016
INR 103.903604
IQD 1697.220851
IRR 2111063.625609
ISK 136.60431
JEP 0.834016
JMD 177.702241
JOD 0.785284
JPY 176.954675
KES 143.936361
KGS 96.854353
KHR 4566.34137
KMF 489.534619
KPW 996.790358
KRW 1475.859262
KWD 0.344856
KYD 0.932943
KZT 499.834834
LAK 25202.439053
LBP 100264.926457
LKR 372.104421
LRD 190.338224
LSL 18.356059
LTL 3.270292
LVL 0.669943
LYD 7.177326
MAD 10.922187
MDL 20.12003
MGA 5066.347521
MKD 61.552219
MMK 2325.539036
MNT 3992.592734
MOP 9.04589
MRU 45.167354
MUR 52.242751
MVR 17.054243
MWK 1941.501024
MXN 20.606424
MYR 4.520889
MZN 70.773444
NAD 18.354157
NGN 1490.467247
NIO 41.201874
NOK 10.597665
NPR 168.360757
NZD 1.991039
OMR 0.425858
PAB 1.119697
PEN 3.815503
PGK 5.028465
PHP 70.506385
PKR 307.425688
PLN 4.411466
PYG 6911.831479
QAR 4.081442
RON 5.346007
RSD 117.612262
RUB 91.993569
RWF 1656.551393
SAR 4.177896
SBD 8.960866
SCR 15.436901
SDG 666.186966
SEK 11.057951
SGD 1.423373
SHP 0.829901
SLE 25.365438
SLL 23224.66743
SOS 639.883773
SRD 41.69459
STD 22923.943087
STN 24.453631
SVC 9.796495
SYP 14400.298304
SZL 18.361018
THB 37.422282
TJS 10.289642
TMT 3.876407
TND 3.336957
TOP 2.666702
TRY 55.661878
TTD 7.592883
TWD 36.472
TZS 2944.030377
UAH 50.925177
UGX 4568.419925
USD 1.107545
UYU 45.303891
UZS 13406.308178
VES 997.333655
VND 28442.306534
VUV 132.84321
WST 3.087613
XAF 655.957
XAG 0.021468
XAU 0.000278102224
XCD 2.993196
XCG 2.017683
XDR 0.783092
XOF 655.957
XPF 119.331742
YER 261.939612
ZAR 18.387073
ZMK 9969.292258
ZMW 22.81264
ZWL 356.629003
SSP 6408.834546
MXV 2.315332
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

US clears key hurdle in race to avert government shutdown
US clears key hurdle in race to avert government shutdown / Photo: Mandel NGAN - AFP/File

US clears key hurdle in race to avert government shutdown

US lawmakers on Tuesday approved a stop-gap bill to keep the government open as its funding runs out, greatly reducing the threat of a painful shutdown that would leave government workers without pay over Thanksgiving and Congress unable to address urgent crises in Ukraine and Israel.

Text size:

With the US Capitol paralyzed by infighting for much of its latest session, neither the Democratic-led Senate nor the Republican House of Representatives passed 2024 budgets for the various federal departments by the deadline of midnight Friday into Saturday.

The House approved a bill that essentially puts off the problem until January of 2024 -- a presidential election year -- but the majority Republicans needed help from Democrats amid a rebellion among conservatives irritated by the temporary fix.

The so-called "laddered continuing resolution" now moves to the Senate, where it is expected to get a smoother ride, giving lawmakers precious extra weeks for a broader debate on funding the government for the full year.

Worried strategists in Congress and the White House have been outlining the stakes for weeks: a shutdown would mean the world's largest economy pumping the brakes from Saturday -- with up to 1.5 million public workers sent home without pay, days before the Thanksgiving holiday.

Most federal facilities -- including national parks from the iconic Yosemite and Yellowstone in the west to Florida's Everglades swamp -- would close and the air traffic control system could be curtailed, snarling Americans' Thanksgiving travel plans.

The stop-gap bill approved by the House includes none of the policy priorities or drastic spending cuts the Republican right flank is pushing for, but more than 90 no votes from conservatives were canceled out by wide support from Democrats.

- 'Harmful cuts' -

"House Democrats have repeatedly articulated that any continuing resolution must be set at the fiscal year 2023 spending level, be devoid of harmful cuts and free of extreme right-wing policy riders," Democratic House Minority Leader Hakeem Jeffries said, announcing his support.

"The continuing resolution before the House today meets that criteria."

Budget votes in Congress regularly turn into a standoff, with one party using the prospect of a shutdown to seek concessions from the other, usually without success.

This one was seen as the first major test of new House Speaker Mike Johnson's leadership, after allies of former president Donald Trump, furious that their leadership had reached a deal with Biden to extend funding, successfully moved to oust Johnson's predecessor Kevin McCarthy in October.

The historic rebellion left the lower chamber paralyzed for three weeks as Republicans struggled to find a replacement leader, even as the deadly Hamas attack on Israel and war in Ukraine spurred calls for quick congressional action.

"I've been in the job less than three weeks. I can't turn an aircraft carrier overnight," Johnson told reporters as he defended his plan, which pushes back funding deadlines to January and February for different parts of the government.

"But this was a very important first step to get us to the next stage, so that we can change how Washington works."

Democrats had pressed for their own add-ons -- including aid for Israel, Ukraine and Taiwan -- but each now looks set to be dealt with separately, with a $61 billion request from the White House for Kyiv looking particularly precarious amid conservative opposition.

Johnson was able to rely on impatience with the chaos of recent months -- plus the looming holiday -- to work in his favor.

(S.G.Stein--BBZ)