McCarthy indicated he would put the Senate's stopgap funding measures up for a vote in the House of Representatives.
House Speaker Kevin McCarthy rejected the Senate’s bipartisan bill to avoid a government shutdown late Wednesday, increasing the chances of a government shutdown this weekend.
McCarthy is trying to negotiate a deal that satisfies demands from a small number of Republicans in his chamber calling for big new spending cuts. He’s working on his own plan to keep the government running, though it’s not clear that an agreement that appeases the holdouts on his side would get through the Senate, which is controlled by the Democratic Party.
Goldman Sachs now predicts that the odds of a shutdown this weekend are about 90%. Jan Hatzius, the Goldman chief economist, says it could last two or three weeks. If the government closes for business, government employees such as military personnel and airport security workers would be temporarily unpaid. Moody’s warned that it would be negative for the U.S. credit rating.
Earlier this week, the Senate passed a stopgap funding bill and sent it to the house. McCarthy indicated that he wouldn’t put the Senate bill to a vote.
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