Economy News Spotlights

Schumer: Government funding resolution agreement with McCarthy is ‘good sign’

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(Reuters) – U.S. Senate Majority Leader Chuck Schumer on Wednesday said he met with House Speaker Kevin McCarthy a few weeks ago and agreed to a resolution that could extend current federal government spending for a few months.

“We agreed we should do a CR … where you just extend the existing funding for a few months so we could work this out, and I thought that was a good sign,” the chamber’s top Democrat told MSNBC, referring to a temporary spending measure known as a continuing resolution.

Current government funding is due to expire Sept. 30 with the fiscal year beginning Oct 1, and no action to fund the federal government could trigger a shutdown.

Any spending measures would have to pass both the Democratic-led Senate and the Republican-controlled House of Representatives.

Schumer warned against McCarthy, a Republican, following hardline members of his party who may be pushing for a shutdown over Ukraine funding and other issues, and noted that there is bipartisan support in the Senate to pass regular appropriations bills to fund the U.S. government.

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