Economic news

US House speaker defends stopgap spending as some Republicans, Musk balk

2024.12.18 09:21

WASHINGTON (Reuters) – U.S. House Speaker Mike Johnson defended a stopgap measure aimed at funding the federal government through mid-March and averting a partial government shutdown despite complaints from some fellow Republicans and Donald Trump ally Elon Musk.

Johnson, in an interview on Fox News, said the bill was necessary to keep the government operating until U.S. President-elect Trump and his fellow Republicans had full control of Congress and could fully enact promised bigger spending changes.

Tesla (NASDAQ:) founder Musk, who along with fellow businessman Vivek Ramaswamy were tasked by Trump to lead an outside advisory panel that they say will make the government more efficient, balked at the spending bill and urged lawmakers to reject it.

“This bill should not pass,” Musk wrote in an early morning post on X.

Johnson told Fox that he had spoken with Musk and Ramaswamy about the bill’s circumstances Tuesday night, including the 219-211 majority Republicans hold in the chamber while Democrats still control the Senate and White House until next month.

“Elon and Vivek and I are on a text chain together, and I was explaining to them the background of this,” he said. “They understand the situation.”

© Reuters. FILE PHOTO: U.S. House Speaker Mike Johnson (R-LA) attends a press conference following a House Republican conference meeting on Capitol Hill in Washington, U.S., December 17, 2024. REUTERS/Elizabeth Frantz/File Photo

Other Republican lawmakers voiced opposition to the bill, which must pass by Friday night in order to prevent a partial shutdown that would start on Saturday unless Congress acts.

The tentative deal would likely keep the roughly $6.2 trillion federal budget at its current level, and includes $100.4 billion in fresh disaster aid as well as $10 billion in economic aid for farmers.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 103,038.61 3.56%
ethereum
Ethereum (ETH) $ 2,344.66 19.68%
tether
Tether (USDT) $ 1.00 0.03%
xrp
XRP (XRP) $ 2.39 7.93%
bnb
BNB (BNB) $ 637.40 3.81%
solana
Solana (SOL) $ 171.68 11.15%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.206938 12.89%
cardano
Cardano (ADA) $ 0.792431 9.94%
tron
TRON (TRX) $ 0.263364 5.03%
staked-ether
Lido Staked Ether (STETH) $ 2,343.82 19.85%
sui
Sui (SUI) $ 3.97 5.25%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 103,114.63 3.72%
chainlink
Chainlink (LINK) $ 16.20 8.73%
avalanche-2
Avalanche (AVAX) $ 23.48 11.96%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,828.68 20.24%
stellar
Stellar (XLM) $ 0.301262 9.62%
shiba-inu
Shiba Inu (SHIB) $ 0.000015 12.51%
hedera-hashgraph
Hedera (HBAR) $ 0.19977 7.36%
hyperliquid
Hyperliquid (HYPE) $ 24.83 14.92%
bitcoin-cash
Bitcoin Cash (BCH) $ 415.88 0.47%
the-open-network
Toncoin (TON) $ 3.30 5.62%
leo-token
LEO Token (LEO) $ 8.74 0.74%
usds
USDS (USDS) $ 1.00 0.01%
litecoin
Litecoin (LTC) $ 98.61 7.14%
polkadot
Polkadot (DOT) $ 4.68 10.20%
weth
WETH (WETH) $ 2,348.06 19.85%
monero
Monero (XMR) $ 302.45 2.11%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,505.13 20.19%
pepe
Pepe (PEPE) $ 0.000013 38.26%
bitget-token
Bitget Token (BGB) $ 4.49 3.61%
pi-network
Pi Network (PI) $ 0.735793 18.24%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999672 0.05%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.02%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 103,204.65 3.74%
whitebit
WhiteBIT Coin (WBT) $ 30.28 3.77%
uniswap
Uniswap (UNI) $ 6.33 21.07%
bittensor
Bittensor (TAO) $ 429.33 7.10%
near
NEAR Protocol (NEAR) $ 2.93 16.92%
aptos
Aptos (APT) $ 5.69 11.75%
dai
Dai (DAI) $ 1.00 0.01%
ondo-finance
Ondo (ONDO) $ 1.02 10.64%
okb
OKB (OKB) $ 53.92 4.17%
aave
Aave (AAVE) $ 209.55 11.50%
susds
sUSDS (SUSDS) $ 1.05 0.01%
ethereum-classic
Ethereum Classic (ETC) $ 19.12 10.21%
crypto-com-chain
Cronos (CRO) $ 0.101642 6.90%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%
official-trump
Official Trump (TRUMP) $ 14.30 17.25%
internet-computer
Internet Computer (ICP) $ 5.31 8.89%