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The United States avoided a shutdown: the Senate approved a law on government financing


December, 23 2024
watermark Economic news

The US Congress has approved a bill aimed at continuing to finance the government, which made it possible to avoid suspending its work just before the start of the active tourist season.


The Senate, which is under the control of the Democratic majority, approved the document with the support of 85 senators, while 11 voted against. Thanks to this, the authorities were able to avoid the temporary cessation of the functioning of state structures.


The next step will be to send the bill to President Joe Biden for signature, who is expected to approve it without delay. Prior to that, the document had already received bilateral support in the House of Representatives, where Republicans hold the majority of seats.


The vote, which took place at night, capped a difficult week that was marked by chaos due to the failure of an initial bipartisan agreement. This situation was the result of the intervention of President-elect Donald Trump and his ally, billionaire Elon Musk, which eventually disoriented Congress.


The final version of the document lost some of the points that the Democrats insisted on. They expressed their dissatisfaction, accusing the Republicans of succumbing to the influence of a billionaire who has neither proper experience in government nor an official status in the government.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.