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U.S. Senate passes stopgap funding bill as possible shutdown looms

Friday, September 30, 2022
U.S. Senate passes stopgap funding bill as possible shutdown looms © Reuters. Senate Majority Leader Chuck Schumer (D-NY) attends a press conference at the U.S. Capitol in Washington, U.S., September 28, 2022. REUTERS/Mary F. Calvert

WASHINGTON (Reuters) -The U.S. Senate on Thursday passed a bill to fund federal government activities through Dec. 16, as Congress moved to stave off a partial government shutdown at midnight on Friday, when the new fiscal year begins.

The 72-25 vote sent the stopgap funding bill on to the House of Representatives, which is expected to act before the deadline to keep open federal agencies that otherwise would be forced to shut down on Saturday.

Both chambers of Congress must approve the legislation before it can be sent to the White House for President Joe Biden's signature.

A government shutdown would prove embarrassing for Democrats who control the House, Senate and White House, just six weeks before the Nov. 8 midterm elections, when control of Congress will be at stake.

"I'm glad we came to a timely conclusion and didn't go right up to the brink and risk a shutdown. Millions and millions of people can breathe easy," Senate Majority Leader Chuck Schumer said just before the vote.

In addition to money for federal agencies, the funding bill includes $12.3 billion in new money to help Ukraine turn back Russia's invasion. The aid includes both military and economic assistance.

The bill also authorizes Biden to direct the drawdown of up to $3.7 billion for the transfer to Ukraine of excess weapons from U.S. stocks.

Amid reports of Russian forces threatening the safety of Ukraine's nuclear power plants and Russian President Vladimir Putin hinting he might use nuclear weapons against Ukraine, the legislation would appropriate $35 million "to prepare for and respond to potential nuclear and radiological incidents in Ukraine," according to a bill summary.

The stopgap bill also includes a five-year renewal of Food and Drug Administration user fees being collected from drug and medical device companies to review their products and determine whether they are safe and effective, the bill summary showed.

The law authorizing the collection of fees expires on Friday.

The last time Congress allowed funding to lapse was in December 2018, when Democrats balked at paying for then-President Donald Trump's U.S.-Mexico border wall, leading to a record, 35-day impasse and partial government shutdown.

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01-05-2024 10:45:17 (UTC+7)

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EUR/USD

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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Cập nhật lúc 10:45:15 01/05/2024
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