Zürcher Nachrichten - Biden signs funding bill to avert government shutdown

EUR -
AED 3.831072
AFN 72.927229
ALL 98.419269
AMD 410.271893
ANG 1.872215
AOA 957.496706
ARS 1061.692588
AUD 1.668305
AWG 1.877444
AZN 1.777282
BAM 1.955189
BBD 2.097545
BDT 124.141237
BGN 1.955855
BHD 0.391978
BIF 3071.340978
BMD 1.043024
BND 1.410859
BOB 7.178758
BRL 6.347889
BSD 1.038876
BTN 88.318423
BWP 14.358517
BYN 3.399738
BYR 20443.276614
BZD 2.088248
CAD 1.495916
CDF 2993.480167
CHF 0.932343
CLF 0.037343
CLP 1030.408256
CNY 7.610327
CNH 7.606363
COP 4547.280118
CRC 524.136339
CUC 1.043024
CUP 27.640144
CVE 110.230581
CZK 25.128859
DJF 184.992236
DKK 7.459297
DOP 63.260247
DZD 140.605096
EGP 53.072428
ERN 15.645365
ETB 129.499464
FJD 2.41674
FKP 0.826056
GBP 0.830004
GEL 2.931306
GGP 0.826056
GHS 15.271232
GIP 0.826056
GMD 75.098122
GNF 8975.197506
GTQ 8.004501
GYD 217.342135
HKD 8.110923
HNL 26.370766
HRK 7.481515
HTG 135.907563
HUF 414.018477
IDR 16867.059138
ILS 3.805965
IMP 0.826056
INR 88.607528
IQD 1360.875069
IRR 43898.289923
ISK 145.105945
JEP 0.826056
JMD 162.539247
JOD 0.739613
JPY 163.153034
KES 134.118122
KGS 90.743481
KHR 4174.696457
KMF 486.179751
KPW 938.721302
KRW 1508.651632
KWD 0.3212
KYD 0.86573
KZT 545.579643
LAK 22737.90012
LBP 93027.952144
LKR 305.004763
LRD 188.551125
LSL 19.125728
LTL 3.07978
LVL 0.630915
LYD 5.104406
MAD 10.455435
MDL 19.135025
MGA 4901.469523
MKD 61.515792
MMK 3387.702296
MNT 3544.196494
MOP 8.316603
MRU 41.315099
MUR 49.23465
MVR 16.066474
MWK 1801.337535
MXN 20.937842
MYR 4.701994
MZN 66.653144
NAD 19.125728
NGN 1616.208293
NIO 38.228063
NOK 11.812512
NPR 141.309876
NZD 1.845228
OMR 0.401355
PAB 1.038876
PEN 3.868392
PGK 4.212685
PHP 61.403232
PKR 289.16061
PLN 4.263169
PYG 8100.470639
QAR 3.787117
RON 4.976899
RSD 116.931488
RUB 107.374772
RWF 1448.147818
SAR 3.91792
SBD 8.744252
SCR 14.545014
SDG 627.382961
SEK 11.51065
SGD 1.414241
SHP 0.826056
SLE 23.784779
SLL 21871.701575
SOS 593.714613
SRD 36.642527
STD 21588.497505
SVC 9.090162
SYP 2620.630141
SZL 19.121029
THB 35.692677
TJS 11.364851
TMT 3.661015
TND 3.310266
TOP 2.442871
TRY 36.683145
TTD 7.050798
TWD 34.034966
TZS 2467.229611
UAH 43.568696
UGX 3810.81008
USD 1.043024
UYU 46.335532
UZS 13393.817798
VES 53.689938
VND 26550.18399
VUV 123.829936
WST 2.881655
XAF 655.752242
XAG 0.03535
XAU 0.000398
XCD 2.818826
XDR 0.792453
XOF 655.752242
XPF 119.331742
YER 261.147252
ZAR 19.11033
ZMK 9388.474223
ZMW 28.750023
ZWL 335.853405
  • CMSD

    0.0000

    23.56

    0%

  • BCC

    -0.2600

    122.75

    -0.21%

  • RIO

    -0.0900

    58.64

    -0.15%

  • BCE

    0.0500

    23.16

    +0.22%

  • JRI

    0.1100

    12.06

    +0.91%

  • SCS

    -0.5800

    11.74

    -4.94%

  • NGG

    0.8200

    58.5

    +1.4%

  • RBGPF

    59.9600

    59.96

    +100%

  • GSK

    0.1700

    33.6

    +0.51%

  • RELX

    -0.3100

    45.47

    -0.68%

  • CMSC

    0.0200

    23.86

    +0.08%

  • RYCEF

    -0.0100

    7.27

    -0.14%

  • BTI

    0.1131

    36.24

    +0.31%

  • VOD

    0.0100

    8.39

    +0.12%

  • AZN

    0.9100

    65.35

    +1.39%

  • BP

    0.1900

    28.6

    +0.66%

Biden signs funding bill to avert government shutdown
Biden signs funding bill to avert government shutdown / Photo: Daniel SLIM - AFP/File

Biden signs funding bill to avert government shutdown

US President Joe Biden signed a funding bill Saturday, the White House said, averting a Christmastime government shutdown after negotiations in Congress went down to the wire overnight.

Text size:

Last minute legislative wrangling was brought about by incoming president Donald Trump, who along with influential billionaire Elon Musk, pressured Republicans to abandon an earlier bipartisan funding compromise.

Lawmakers then spent several days trying to hammer out another deal, with massive halts to government services hanging in the balance.

With the Friday midnight deadline already expired by minutes, senators dropped normal procedure to fast-track the new package to a vote, funding the government to mid-March.

"It's good news that the bipartisan approach in the end prevailed... It's a good outcome for America and the American people," Democratic Majority Leader Chuck Schumer said in a speech on the Senate floor.

The Democrats run the Senate, so there was never much doubt that the new funding package would get a rubber stamp after the party was crucial in helping the Republican majority in the House pass the bill earlier in the day.

But with senators often dragging their feet over complex legislation, there were fears that the funding fight might spill into next week.

That would have meant non-essential operations winding up, with up to 875,000 workers furloughed and as many as 1.4 million more required to work without pay.

Congress's setting of government budgets is always a fraught task, with both chambers closely divided between Republicans and Democrats.

President-elect Donald Trump and tech billionaire Musk, his incoming "efficiency czar," created much of the drama this time around by pressuring Republicans in an 11th hour intervention to renege on a funding bill they had painstakingly agreed with Democrats.

Two subsequent efforts to find compromise fell short, leaving Republican House Speaker Mike Johnson at the last chance saloon as he spent much of Friday huddling with aides to find a way to keep government agencies running.

If the funding bill had failed, non-essential government functions would have been put on ice. Employees in key services like law enforcement would have continued working but would only have been paid once government functions were back up.

Many parks, monuments and national sites would have closed at a time when millions of visitors are expected.

- Musk: unelected, but influential -

Lawmakers avoided all that holiday-season pain by funding the government until March 14 in a package that includes $110 billion in disaster aid and financial relief for farmers.

But stripped from the original funding bill were pharmaceutical reforms, congressional pay raises and tightened restrictions on US investments in China -- the removal of which some Democrats tied directly to Musk, the CEO of Tesla.

"Musk's ties to China and Tesla's significant investments in the country raise significant questions as to why he urged House Republican leadership walking away" from the original bipartisan deal, Representative Rosa DeLauro said in a letter to congressional leadership.

The influence of Musk, the world's richest man, over the Republicans -- and his apparent sway with Trump -- has become a focus for Democratic attack, with questions raised over how an unelected citizen can wield so much power.

There is growing anger even among Republicans over Musk's interference after he trashed the original funding agreement in a blizzard of posts -- many of them wildly inaccurate -- on his social media platform X.

"Last time I checked, Elon Musk doesn't have a vote in Congress," Georgia House Republican Rich McCormick told CNN.

"Now, he has influence, and he'll put pressure on us to do whatever he thinks the right thing is for him. But I have 760,000 people that voted for me to do the right thing for them."

Trump had been clear that he was willing to see a shutdown if he did not get his way, and the passage of funding legislation without his priorities included demonstrated that even his great influence over Republicans in Congress has limits.

But Johnson put a positive sheen on events, telling reporters after the House passed the funding package that January, when Trump returns to office, would mark a "sea change" in Washington.

"President Trump will return to DC and to the White House, and we will have Republican control of the Senate and the House," Johnson told reporters. "Things are going to be very different around here."

M.J.Baumann--NZN