US House Republicans aim to shutdown-averting measure amid credit alert

US House Republicans aim to shutdown-averting measure amid credit alert

Web Desk
November 11, 2023

US House Republicans aim to shutdown-averting measure amid credit alert

US House Republicans aim to shutdown-averting measure amid credit alert.
House Speaker Mike Johnson has been in talks about various CR options.
Hardline conservatives are pushing for a measure with spending cuts.

House of Representatives Republicans in the U.S. are planning to unveil a stopgap measure to prevent a partial government shutdown on Saturday.

This comes after Moody’s credit agency recently downgraded the government’s credit ratings outlook to “negative.” An anonymous source revealed that the release plans for the continuing resolution (CR) were still uncertain, and the form of the measure was unclear.

House Speaker Mike Johnson, working with his slim 221-212 Republican majority, has been in talks about various CR options.

A consensus must be reached between the Republican-controlled House and the Democratic-led Senate to present a bill for President Joe Biden’s approval before the current funding expires on November 17.

Moody’s cited congressional political polarization as a factor in its decision to downgrade the credit outlook, expressing concerns about Washington’s ability to agree on measures to address growing deficits.

The U.S. recorded a $1.7 trillion deficit last year, and with rising interest rates, the cost of servicing the debt is expected to increase.

Facing the imminent threat of a shutdown, some Republicans advocate for a “clean” CR without spending cuts or policy riders that Democrats oppose, extending until mid-January.

However, hardline conservatives are pushing for a measure with spending cuts, policies such as enhanced U.S.-Mexico border security, and an unconventional structure with staggered deadlines for different federal budget segments.

Senate Majority Leader Chuck Schumer has taken preliminary steps toward advancing his stopgap measure amid these debates.

Many lawmakers emphasize the need to avoid a prolonged partisan struggle over the stopgap measure to prevent a government shutdown.

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