U.S. government shutdown looms as Congress remains deadlocked
With a funding deadline approaching, Senate Democrats and House Republicans struggle to reach a deal, risking economic fallout.
(CNN)- The federal government is on the brink of a shutdown as Congress faces a Friday deadline to pass a spending bill. With both parties refusing to budge, millions of Americans could soon feel the impact.
Congress Standoff Over Funding Bill
A continuing resolution (CR) passed by House Republicans needs Democratic support to clear the Senate. However, Senate Democrats are blocking the measure, pushing for concessions to curb spending cuts. Senate Minority Leader Chuck Schumer (D-NY) urged Republicans to find a solution, saying, “I hope our Republican colleagues will join us to avoid a shutdown on Friday.” Senate Majority Leader John Thune (R-SD), however, placed the blame on Democrats, saying, “We are on the brink of a government shutdown which will be entirely of the Democrats’ making.”
Democrats Seek Bipartisan Negotiations
Democrats have proposed a stopgap measure to fund the government for an additional month, allowing time for bipartisan negotiations. But Republicans have refused to support the plan. Sen. John Fetterman (D-PA) explained the risks of a shutdown, warning, “If you shut it down, you will impact and hurt millions and millions of Americans.”
Economic Concerns Grow
The potential shutdown comes as economic experts worry about inflation and the impact of new tariffs. Larry Fink, CEO of BlackRock, warned of an economic slowdown, saying, “Talking to CEOs throughout the economy, I hear that the economy is weakening as we speak.” Adding to the challenge, the House is not in session today or tomorrow, making it even more difficult to pass an alternative funding plan before the deadline.
