The Fort Worth Press - With shutdown looming, US Senate offers short-term budget fix

USD -
AED 3.67301
AFN 68.018868
ALL 92.613644
AMD 389.189685
ANG 1.795763
AOA 913.494587
ARS 1001.755802
AUD 1.53822
AWG 1.794475
AZN 1.695756
BAM 1.845077
BBD 2.011887
BDT 119.074348
BGN 1.853605
BHD 0.376962
BIF 2942.924528
BMD 1
BND 1.334811
BOB 6.910312
BRL 5.776676
BSD 0.99642
BTN 84.146376
BWP 13.556668
BYN 3.260849
BYR 19600
BZD 2.008491
CAD 1.39949
CDF 2869.999864
CHF 0.8854
CLF 0.035213
CLP 971.709771
CNY 7.246798
CNH 7.250695
COP 4392.39
CRC 506.509434
CUC 1
CUP 26.5
CVE 104.022604
CZK 23.978402
DJF 177.433962
DKK 7.067898
DOP 60.009434
DZD 133.428073
EGP 49.747898
ERN 15
ETB 122.638421
EUR 0.947605
FJD 2.27125
FKP 0.789317
GBP 0.789605
GEL 2.745008
GGP 0.789317
GHS 15.872492
GIP 0.789317
GMD 70.485115
GNF 8587.735849
GTQ 7.69238
GYD 208.365959
HKD 7.78385
HNL 25.176653
HRK 7.133259
HTG 130.896226
HUF 388.677497
IDR 15902.85
ILS 3.733904
IMP 0.789317
INR 84.371501
IQD 1305.270705
IRR 42104.999838
ISK 137.679739
JEP 0.789317
JMD 158.039227
JOD 0.709301
JPY 155.825506
KES 129.506428
KGS 86.502645
KHR 4047.169811
KMF 464.774983
KPW 899.999621
KRW 1397.759744
KWD 0.30757
KYD 0.83037
KZT 494.438732
LAK 21847.169811
LBP 89228.962264
LKR 289.90566
LRD 181.349912
LSL 18.013017
LTL 2.95274
LVL 0.60489
LYD 4.860377
MAD 9.955472
MDL 18.109434
MGA 4657.569139
MKD 58.29828
MMK 3247.960992
MNT 3397.999946
MOP 7.988227
MRU 39.656604
MUR 46.297294
MVR 15.450225
MWK 1727.838339
MXN 20.22077
MYR 4.4715
MZN 63.960176
NAD 18.015396
NGN 1674.809729
NIO 36.669811
NOK 11.047499
NPR 134.635849
NZD 1.70145
OMR 0.385005
PAB 0.996406
PEN 3.781379
PGK 4.009434
PHP 58.943505
PKR 276.90508
PLN 4.106613
PYG 7760.377358
QAR 3.633928
RON 4.715425
RSD 110.865988
RUB 100.352408
RWF 1370.578968
SAR 3.754222
SBD 8.36952
SCR 13.372581
SDG 601.49542
SEK 11.00366
SGD 1.343005
SHP 0.789317
SLE 22.598872
SLL 20969.504736
SOS 569.439334
SRD 35.5385
STD 20697.981008
SVC 8.718786
SYP 2512.529858
SZL 18.010462
THB 34.693954
TJS 10.591787
TMT 3.51
TND 3.139593
TOP 2.342101
TRY 34.466975
TTD 6.765974
TWD 32.547968
TZS 2652.497004
UAH 41.137364
UGX 3668.833313
UYU 42.773181
UZS 12779.124725
VES 46.003567
VND 25425
VUV 118.722009
WST 2.791591
XAF 618.830278
XAG 0.032344
XAU 0.00038
XCD 2.70255
XDR 0.757928
XOF 618.830278
XPF 112.508373
YER 249.88737
ZAR 18.123703
ZMK 9001.197048
ZMW 27.526415
ZWL 321.999592
  • AZN

    0.0100

    63.81

    +0.02%

  • SCS

    -0.0050

    13.085

    -0.04%

  • BTI

    0.0100

    36.94

    +0.03%

  • NGG

    -0.4800

    63.1

    -0.76%

  • RBGPF

    -0.5400

    59.65

    -0.91%

  • RIO

    0.1800

    62.61

    +0.29%

  • GSK

    -0.1100

    33.35

    -0.33%

  • CMSC

    0.0410

    24.606

    +0.17%

  • BP

    -0.1450

    28.945

    -0.5%

  • RYCEF

    -0.0500

    6.64

    -0.75%

  • RELX

    -0.2950

    44.995

    -0.66%

  • BCE

    -0.1750

    27.135

    -0.64%

  • JRI

    -0.0150

    13.245

    -0.11%

  • BCC

    -0.8100

    137.37

    -0.59%

  • CMSD

    -0.0336

    24.31

    -0.14%

  • VOD

    0.0200

    8.94

    +0.22%

With shutdown looming, US Senate offers short-term budget fix
With shutdown looming, US Senate offers short-term budget fix / Photo: © AFP/File

With shutdown looming, US Senate offers short-term budget fix

The US Senate drafted a last-ditch short-term budget proposal Tuesday as time was running out on Congress to avoid a partial government shutdown.

Text size:

With just days left before the September 30 deadline, both Democratic Senate Majority leader Chuck Schumer and Republican minority leader Mitch McConnell endorsed the draft, which would keep the government open until November 17.

But there was no immediate indication that the warring factions of House Republicans, who have forced the showdown over government funding, would take it up if passed in the Senate.

"Shutting the government down over a domestic budget dispute doesn't strengthen anyone’s political position," McConnell said.

"It just puts important progress on ice. And it leaves millions of Americans on edge," he said.

- Frozen services, no paychecks -

If a deal isn't reached by Saturday, hundreds of thousands of federal employees could be furloughed, curtailing a wide swath of government services.

That could mean welfare recipients don't get payments they depend on, and airport operations could slow, snarling travel plans for millions.

Some employees would continue to work -- like the military and others deemed essential -- but would not get their paychecks, until a budget is finally passed.

Democratic President Joe Biden placed the blame on a small group of "extremist" Republican lawmakers in the House, saying he had previously reached a deal on the budget with Senate Republican leader Mitch McConnell.

The House hardliners "are determined to shut down the government," Biden said in a video message.

Meanwhile the Republican mainstream "refuse... to stand up to the extremists in their party," Biden said.

"So now everyone in America could be forced to pay the price," he said.

- Ukraine aid on the chopping block -

The Senate draft confirmed that Ukraine, which has been battling Russian invaders for more than a year and a half, could find its lifeline of US arms and economic aid under threat.

Last week Ukrainian President Volodymyr Zelensky visited Capitol Hill to try to convince the slowly growing number of skeptical Republican members of Congress not to give up on his country.

But after Biden asked Congress for $24 billion for Kyiv, the short-term Senate measure released Tuesday allocated just $6.1 billion.

But hardliners in the House have said they don't want any more money going to Kyiv, after the $110 billion already provided since the invasion began in February 2022.

"When you've got a president who is more concerned about the sovereignty of Ukraine than our own national sovereignty, then you've got a problem," said Republican Representative Chip Roy, referring to Biden.

- Markets sink without a deal -

Even if the Senate passes the measure quickly, there were doubts that the House could act quickly enough to avoid at least a short shutdown.

The prospect of the world's largest economy unable to produce a government budget comes just four months after Washington came dangerously close to defaulting on its debt due to political deadlock.

That could have had disastrous consequences for the American economy and beyond.

US stock markets sank more than one percent on Tuesday amid the prospect for a government shutdown.

On Monday, Moody's -- the only major ratings agency to maintain its maximum score for US sovereign debt -- warned that the latest drama could threaten its top-tier status.

M.T.Smith--TFWP