HomeNewsVideosWorldU.S House scraps Trump-backed spending bill, shutdown approaches | N18G

U.S House scraps Trump-backed spending bill, shutdown approaches | N18G

On December 19, a spending bill backed by President-elect Donald Trump failed in the U.S. House of Representatives. Despite Trump’s efforts to pressure lawmakers to resolve funding issues before his January 20 inauguration, the bill was rejected by 38 Republicans who opposed its increased spending and impact on national debt. The failure to pass the bill leaves the U.S. government facing a shutdown starting at midnight on December 20, which would disrupt services and halt paychecks for over 2 million federal workers, affecting the holiday season. The bill, which resembled a prior bipartisan deal, was criticized by Trump and Elon Musk as a wasteful giveaway to Democrats. Key elements of the bill, including a pay raise for lawmakers, were dropped. At Trump’s urging, the bill also aimed to suspend debt limits for two years to ease the passage of future tax cuts, further increasing the federal government’s $36 trillion debt.

December 20, 2024 / 20:00 IST
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Moneycontrol News
first published: Dec 20, 2024 08:00 pm

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