Close Menu
    What's Hot

    Ripple Rally on Fed Dovish Tone, $10 Dream Returns

    September 4, 2026

    Oil trends toward biggest weekly gain since July; ING raises price forecast

    September 4, 2026

    I’m a Baklava Bakery Owner Hustling Through SF’s AI Boom

    September 4, 2026
    Facebook X (Twitter) Instagram
    Hot Paths
    • Home
    • News
    • Politics
    • Money
    • Personal Finance
    • Business
    • Economy
    • Investing
    • Markets
      • Stocks
      • Futures & Commodities
      • Crypto
      • Forex
    • Technology
    Facebook X (Twitter) Instagram
    Hot Paths
    Home»Markets»Stocks»US Congress has two days to avert shutdown after Trump rejects spending bill By Reuters
    Stocks

    US Congress has two days to avert shutdown after Trump rejects spending bill By Reuters

    Press RoomBy Press RoomDecember 19, 2024No Comments4 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    By Richard Cowan, Bo Erickson, Andy Sullivan and Katharine Jackson

    WASHINGTON (Reuters) – The U.S. Congress has two days to avert a partial government shutdown after Republican President-elect Donald Trump rejected a bipartisan deal late on Wednesday and demanded lawmakers also raise the nation’s debt ceiling before he takes office next month.

    Trump pressured his fellow Republicans in Congress to reject a stopgap bill to keep the government funded past the deadline of midnight on Friday.

    Absent congressional action, the U.S. government will begin a partial shutdown on Saturday that would disrupt everything from air travel to law enforcement in the days leading up to the Dec. 25 Christmas holiday.

    The bipartisan deal reached on Tuesday would have extended funding through March 14.

    Trump warned that Republicans who vote for the current legislative package could have trouble getting re-elected because they will face primary challenges inside their own party.

    “Any Republican that would be so stupid as to do this should, and will, be Primaried,” Trump wrote on his Truth Social platform.

    If it were to materialize, it would be the first government shutdown since one that extended through December 2018 into 2019, during Trump’s first four-year White House term.

    Trump is now calling on Congress to pass legislation that would tie up loose ends before he takes office next month by raising the government’s borrowing authority – a politically difficult task – and extending government funding.

    He also said lawmakers should strip out elements of the deal backed by Democrats, whose support would be necessary for passage.

    Trump’s comments came after his ally Elon Musk, who has been tasked by Trump to prune the federal budget, pressured Congress to reject the bill and said those who back it should be voted out of office.

    TALKS CONTINUED LATE INTO THE NIGHT

    After a meeting with Vice President-elect JD Vance and other top Republican leaders late on Wednesday, Republican House of Representatives Speaker Mike Johnson said there was a “productive conversation,” without giving details.

    “I’m not going to say anything else about it tonight because we are in the middle of these negotiations,” Johnson said.

    When asked if raising the debt ceiling will be part of an agreement being worked on, House Republican leader Steve Scalise said lawmakers were “not there yet.”

    House Appropriations Committee Chair Tom Cole, who was also at the meeting, was asked if he was confident there would not be a government shutdown. He replied: “I’m not confident of anything.”

    NEXT STEPS REMAIN UNCLEAR

    The next steps for Congress were unclear. Bipartisan agreement will be needed to pass any spending bill through the House, where Republicans currently have a 219-211 majority, and the Senate, where Democrats currently hold a narrow majority.

    The White House of Democratic President Joe Biden, who remains in power until Trump takes office on Jan. 20, said on Wednesday that “Republicans need to stop playing politics” and that a government shutdown will be damaging.

    The current bill would fund government agencies at current levels and provide $100 billion for disaster relief and $10 billion in farm aid. It also includes a wide range of unrelated provisions, such as a pay raise for lawmakers and a crackdown on hidden hotel fees.

    Trump said Congress should limit the bill to temporary spending and disaster relief and also raise the national debt ceiling now before it comes to a head next year.

    The stopgap measure is needed because Congress has failed to pass regular spending legislation for the fiscal year that began on Oct. 1. It does not cover benefit programs like Social Security, which continue automatically.

    © Reuters. FILE PHOTO: U.S. President-elect Donald Trump speaks at the America First Policy Institute (AFPI) gala at Mar-A-Lago in Palm Beach, Florida, U.S., November 14, 2024. REUTERS/Carlos Barria/File Photo

    The U.S. government has spent more money than it has taken in for over 20 years, as Democrats have expanded health programs and Republicans have cut taxes.

    Steadily mounting debt – currently $36 trillion – will force lawmakers to raise the debt ceiling at some point, either now or when borrowing authority runs out next year. Failure to act could have potentially severe economic consequences.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Press Room

    Related Posts

    XRP fails to top $1.41 despite Ripple’s partnership with Aviva

    February 15, 2026

    Citi sees 3 major risks in Pinterest stock’s path to recovery

    February 15, 2026

    Commodity wrap: gold, silver tumble as rate cut bets fade; oil slips 3%

    February 14, 2026
    Leave A Reply Cancel Reply

    LATEST NEWS

    Ripple Rally on Fed Dovish Tone, $10 Dream Returns

    September 4, 2026

    Oil trends toward biggest weekly gain since July; ING raises price forecast

    September 4, 2026

    I’m a Baklava Bakery Owner Hustling Through SF’s AI Boom

    September 4, 2026

    CLARITY Act Faces House Calendar Bottleneck

    September 4, 2026
    POPULAR
    Business

    The Business of Formula One

    May 27, 2023
    Business

    Weddings and divorce: the scourge of investment returns

    May 27, 2023
    Business

    How F1 found a secret fuel to accelerate media rights growth

    May 27, 2023
    Advertisement
    Load WordPress Sites in as fast as 37ms!

    Archives

    • September 2026
    • August 2026
    • July 2026
    • June 2026
    • May 2026
    • April 2026
    • March 2026
    • February 2026
    • January 2026
    • December 2025
    • November 2025
    • October 2025
    • September 2025
    • August 2025
    • July 2025
    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • May 2023

    Categories

    • Business
    • Crypto
    • Economy
    • Forex
    • Futures & Commodities
    • Investing
    • Market Data
    • Money
    • News
    • Personal Finance
    • Politics
    • Stocks
    • Technology

    Your source for the serious news. This demo is crafted specifically to exhibit the use of the theme as a news site. Visit our main page for more demos.

    We're social. Connect with us:

    Facebook X (Twitter) Instagram Pinterest YouTube

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Buy Now
    © 2026 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.