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Business & Economy
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Business & Economy
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House Republicans plan to jam Senate with spending bill
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House GOP leaders are telling members that the chamber may not return until after Oct. 1 after passing a short term funding stopgap in a move that could jam Senate Democrats ahead of the end-of-month government funding deadline.
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The plan hinges on the GOP-crafted continuing resolution (CR), which funds the government until Nov. 21, passing through the slim GOP majority in the lower chamber Friday despite opposition from Democratic leaders and a handful of GOP fiscal hawks.
The House is scheduled to be out of session next week for the Rosh Hashanah holiday but return on Monday, Sept. 29, and Tuesday, Sept. 30.
Under the plan being forecast to members, the House would not return for those two days, even as the leadership source stressed bipartisan negotiations would still continue on regular spending bills. Politico first reported the plan.
The plan would force Senate Democrats, whose votes are required to pass the bill in the upper chamber, to either swallow the GOP-crafted CR or allow the government to shut down.
Senate Democrats, however, insist they won’t vote for the “clean” CR that Republicans are pushing because it doesn’t include health care provisions, including an extension of Affordable Care Act subsidies set to expire at the end of the year.
Senate Minority Leader Chuck Schumer (D-N.Y.) took enormous heat from within his own party for helping advance a full-year CR to stave off a government shutdown in March, and he doesn’t appear to have an appetite for redo.
Read more here.
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Welcome to The Hill’s Business & Economy newsletter, I’m Sylvan Lane — covering the intersection of Wall Street and Pennsylvania Avenue.
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Key business and economic news with implications this week and beyond:
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Starbucks workers took legal action against their employer on Wednesday, accusing the company of breaking the law by implementing a new dress code but allegedly refusing to reimburse employees for the associated expenses.
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The Federal Trade Commission (FTC) and seven states sued Ticketmaster and its parent company Live Nation on Thursday, accusing the ticketing firms of allowing scalpers to circumvent their own rules and resell tickets at higher prices to draw in more profits.
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Federal Communications Commission (FCC) Chair Brendan Carr is in the spotlight in the wake of ABC indefinitely suspending late night comedian Jimmy Kimmel.
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President Trump’s top economic adviser praised the Federal Reserve on Thursday for making a “prudent” decision on interest rates, despite the president’s calls for a much steeper rate cut.
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Upcoming news themes and events we’re watching:
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The Treasury Department holds an auction for 3-month and 6-month bills Monday at 11:30 a.m. EDT
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Branch out with more stories from the day:
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Nvidia, the world’s leading chipmaker, announced on Thursday that it’s investing $5 billion …
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Business and economic news we’ve flagged from other outlets:
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Intel surges 22% after $5 billion Nvidia investment, posts best day in nearly 38 years (CNBC)
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Why the $300 billion Oracle-OpenAI deal could be fueling an AI bubble (MarketWatch)
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Opinions related to business and economic issues submitted to The Hill:
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You’re all caught up. See you tomorrow!
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