The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

Politics

Trump-backed spending bill goes down in flames as shutdown looms

by admin December 20, 2024
December 20, 2024
Trump-backed spending bill goes down in flames as shutdown looms

A bill to avert a partial government shutdown that was backed by President-elect Trump failed to pass the House of Representatives on Thursday night.

Congress is inching closer to the possibility of a partial shutdown, with the deadline coming at the end of Friday.

The bill needed two-thirds of the House chamber to pass, but failed to even net a majority. Two Democrats voted with the majority of Republicans to pass the bill, while 38 GOP lawmakers bucked Trump to oppose it.

The margin fell 174 to 235.

It comes after two days of chaos in Congress as lawmakers fought among themselves about a path forward on government spending – a fight joined by Trump and his allies Elon Musk and Vivek Ramaswamy.

Meanwhile, the national debt has climbed to over $36 trillion, and the national deficit is over $1.8 trillion.

The legislation was hastily negotiated on Thursday after GOP hardliners led by Elon Musk and Vivek Ramaswamy rebelled against an initial bipartisan deal that would have extended the government funding deadline until March 14 and included a host of unrelated policy riders.

The new deal also includes several key policies unrelated to keeping the government open, but the 116-page bill is much narrower than its 1,547-page predecessor.

Like the initial bill, the new iteration extended the government funding deadline through March 14 while also suspending the debt limit – something Trump had pushed for.

It proposed to suspend the debt limit for two years until January 2027, still keeping it in Trump’s term but delaying that fight until after the 2026 Congressional midterm elections.

The new proposal also included roughly $110 billion in disaster relief aid for Americans affected by storms Milton and Helene, as well as a measure to cover the cost of rebuilding Baltimore’s Francis Scott Key Bridge, which was hit by a barge earlier this year.

Excluded from the second-round measure is the first pay raise for congressional lawmakers since 2009 and a measure aimed at revitalizing Washington, D.C.’s RFK stadium.

The text of the new bill was also significantly shorter – going from 1,547 pages to just 116.

‘All Republicans, and even the Democrats, should do what is best for our Country, and vote ‘YES’ for this Bill, TONIGHT!’ Trump wrote on Truth Social.

But the bill hit opposition before the legislative text was even released.

Democrats, furious at Johnson for reneging on their original bipartisan deal, chanted ‘Hell no’ in their closed-door conference meeting on Thursday night to debate the bill.

Nearly all House Democrats who left the meeting indicated they were voting against it.

Meanwhile, members of the ultra-conservative House Freedom Caucus also said they would vote against the bill.

‘Old bill: $110BB in deficit spending (unpaid for), $0 increase in the national credit card. New bill: $110BB in deficit spending (unpaid for), $4 TRILLION+ debt ceiling increase with $0 in structural reforms for cuts. Time to read the bill: 1.5 hours. I will vote no,’ Rep. Chip Roy, R-Texas, wrote on X.

This post appeared first on FOX NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
US diplomats in Damascus for first time in more than 10 years following fall of Assad regime
next post
House vote imminent on Trump-backed bill to avoid government shutdown

Related Posts

If Republicans were telling the truth about supporting...

January 22, 2025

Bernie Sanders believes Hunter Biden pardon sets a...

December 16, 2024

Expert speaks out on ‘perfect solution’ to federal...

June 4, 2025

Charlie Kirk’s assassination latest case of conservatives being...

September 11, 2025

Tesla trouble in Ontario: Dozens of vehicles damaged...

March 22, 2025

In election victory, Trump’s gains went beyond the...

November 12, 2024

Trump returns to Europe for the 1st time...

December 7, 2024

USAID workers put on leave as Trump officials...

January 28, 2025

Elon Musk to upgrade security after left-wing magazine...

October 21, 2024

Trump urges House Republicans to ignore ‘grandstanders’ and...

July 2, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Ben & Jerry’s co-founder resigns, claiming parent company Unilever ‘silenced’ its campaigning

      October 2, 2025
    • YouTube to pay $24 million to settle Trump lawsuit

      October 2, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      October 2, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      October 2, 2025
    • White House memo says Democrats’ plan could spend $200B on healthcare for illegal immigrants

      October 2, 2025
    • TREY YINGST: Hamas must accept Trump peace plan to end war once and for all

      October 2, 2025

    Categories

    • Business (1,407)
    • Politics (4,634)
    • Stocks (1,683)
    • Uncategorized (45)
    • World News (1,400)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved