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US House approves bill to avoid shutdown

  • Market: Coal, Crude oil, Emissions, Natural gas
  • 14/11/23

The Republican-led US House of Representatives today overwhelmingly passed a "laddered" funding bill that would keep the federal government funded after 17 November. The measure now appears on track for swift enactment.

The bill passed in a 336-95 vote, attracting broad support from lawmakers in both parties that were looking for an off-ramp from a government shutdown that threatened to last for days or weeks.

The Democratic-controlled Senate will now take up the bill, with majority leader Chuck Schumer (D-New York) planning to see quick, bipartisan approval.

House speaker Mike Johnson (R-Louisiana) argues the continuing resolution — "CR" in Capitol Hill parlance — would prevent a previous dynamic where the Senate has been able to "jam" the House into voting on a massive year-end funding bill by releasing it just days before the holidays in late December.

"That is no way to run a railroad," Johnson said in a televised interview. "And, so, this innovation, this laddered CR that we're doing, prevents that from happening."

The bill would extend funding at existing levels for some federal agencies through 19 January and other agencies through 2 February. Schumer said staggering the funding deadlines was "goofy" but still meets core demands from Democrats, such as avoiding spending cuts. House Appropriations Committee ranking member Rosa DeLauro (D-Connecticut) said the CR was "flawed" for excluding defense support for Ukraine and Israel and disaster relief. Republicans want to negotiate a separate bill with supplemental funding, likely by pairing it with border security measures.

President Joe Biden has signaled an openness to support the bill, despite initial criticism from the White House. Biden said on Monday he would "wait and see what they come up with" before he decides if he would sign or veto the measure.

Johnson was able to fast-track a vote on the CR by placing it on the "suspension calendar" that requires a two-third vote and prevents amendments, in a repeat of the strategy former House speaker Kevin McCarthy (R-California) used to bypass far-right conservatives who were blocking a vote on an earlier short-term funding bill.

If a funding bill fails to pass by 17 November, federal agencies will have to start furloughing millions of federal workers and curtailing services, although some federal agencies funded with multiyear appropriations expect to avoid near-term disruptions.


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01/05/25

Technical issue behind EIA gas report delay: Update

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US bill would extend expired biofuel credits


01/05/25
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01/05/25

US bill would extend expired biofuel credits

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US factory activity contracts for 2nd month in April


01/05/25
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01/05/25

US factory activity contracts for 2nd month in April

Houston, 1 May (Argus) — US manufacturing activity contracted in April for a second month, as output and new orders slowed on tariff policy uncertainty, while price gains accelerated. The Institute for Supply Management's manufacturing purchasing managers' index (PMI) fell to 48.7 in April, down from 49 in March and the lowest since last November. The threshold between contraction and expansion is 50. The two-month contraction in manufacturing activity follows a two-month expansion preceded by 26 consecutive months of contraction. ISM's services PMI, a separate report that tracks the biggest part of the economy, showed nine months of expansion through March. "Demand and production retreated and de-staffing continued, as panelists' companies responded to an unknown economic environment," ISM said Thursday. "Prices growth accelerated slightly due to tariffs, causing new-order placement backlogs, supplier delivery slowdowns and manufacturing inventory growth." The manufacturing data follows a report Wednesday that showed the US economy contracted at an annualized 0.3pc pace in the first quarter as businesses boosted imports and stocked up on goods ahead of US import tariffs. The ISM's new-orders index came in at 47.2, higher than 45.2 in March but showing contraction for a third month. The production index fell to 44, showing a deepening contraction from 48.3 in the prior month. Employment rose by 1.8 points to 46.5, showing a slowing contraction. New export orders contracted faster at 43.1 in April, while imports entered contraction at 47.1 after barely growing, at 50.1, the prior month. The prices index rose to 69.8, up from 69.4 the prior month and signaling quickening expansion. The inventories index fell by 2.6 points to 50.8, marking a second month of expansion after six months of contraction. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Indonesia's coal power phase-out hinges on funding


01/05/25
News
01/05/25

Indonesia's coal power phase-out hinges on funding

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Ukraine, US sign reconstruction deal


01/05/25
News
01/05/25

Ukraine, US sign reconstruction deal

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