From Nasdaq:

The US federal government has averted a shutdown as the House passed a temporary spending bill, which extends funding deadlines to March 1 and March 8, 2024. The bill was passed by a margin of 314-109 in the House and 77-18 in the Senate. Both chambers go on a recess until Monday due to a snowstorm prediction.

Conservative Republicans, including those in the House Freedom Caucus, did not back the bill, denouncing spending levels and border policies. The bill now goes to President Joe Biden for signing, offering a temporary reprieve until early March.

Amidst this temporary relief, the focus now shifts to the 12 bills needed for the full-year budget. The debt pile of over $34 trillion in the US is a looming issue if left unattended.

Despite the temporary resolution, House Speaker Jim Johnson is facing intense pressure from conservative Republicans. Allies of Donald Trump and media personalities are calling for Johnson’s resignation, citing his weaknesses and failure to address border policies.

The uncertainty surrounding the government’s budget and temporary funding underscores the importance of sound financial planning for the American public.



Read more: Government Shutdown Narrowly Dodged As House Greenlights Funding Until March — But Did Speaker Mike Johnson Endanger His Job?