Generic Hero BannerGeneric Hero Banner
Latest Market News

US Congress avoids government shutdown: Update

  • : Coal, Crude oil, Emissions, Natural gas, Oil products
  • 23/10/01

Updates with changes throughout

The US Congress today voted overwhelmingly to approve a short-term spending bill that will fund federal operations through 17 November, averting a shutdown that would have brought many government functions to a halt.

The House of Representatives voted 335-91 to pass a "continuing resolution" to keep the federal government funded at existing levels. The Senate then followed suit, voting 88-9 in favor just hours before funding was about to expire and hundreds of thousands of federal employees were to be furloughed.

President Joe Biden, who is expected to quickly sign the bill, called it "good news for the American people."

Passage was assured as House speaker Kevin McCarthy (R-California), after trying in vain for weeks to persuade far-right members of his own conference to support the continuing resolution, opted to circumvent his rebellious members and join with Democrats to push the legislation through.

Those far-right members have refused for weeks to back any short-term funding deal, even bills featuring Republican priorities such as steep spending and border security changes. But Republicans leaders feared their party would face most of the wrath of voters if they failed to pass a funding bill and forced a government shutdown.

In bringing the bill to the floor, Republican leaders bypassed a typical procedural hurdle that could have enabled a handful of Republicans to block consideration of the bill. But that meant the measure needed a two-thirds vote for passage.

House Democrats provided 209 of the 335 votes in favor of the measure, with only one Democrat voting against it. Only 126 Republicans supported, the bill with 90 opposed.

The "clean" continuing resolution does not include $6bn in supplemental emergency aid to Ukraine, representing a departure from a bipartisan funding package that had been negotiated in the Senate. But the bill will extend for three months authorization of the US Federal Aviation Administration and avoid potential disruptions in its programs.

A shutdown would have meant a disruption to government services for energy and agricultural companies, as well as a halt to key work on federal regulations, permitting and contracting.


Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more