“The debt load of the U.S. is growing at a quicker clip in recent months, increasing about $1 trillion nearly every 100 days,” CNBC reports.
Mike Johnson Plans to Pass Minibus Spending Bills
Punchbowl News: “This comes with huge strategic advantages for the leadership. It means one vote in the House for all six bills – Energy and Water, Interior, Transportation-HUD, Agriculture, MilCon-VA and Commerce-Justice-Science. And it would also speed passage in the Senate. If the Senate had to pass six individual appropriations bills, there’s no telling how long that would take.”
“The plan, as of now, is to pass the final six bills in a minibus as well. That will be tougher than the first tranche.”
“Speaker Mike Johnson created the ‘laddered CR’ to avoid large-scale, omnibus spending deals. He’s not getting an omnibus, but rather a minibus, funding 12 agencies across two bills over the space of a few weeks.”
“This will undoubtedly create angst among hardline GOP conservatives, who will complain about the large-scale spending package. But conservatives aren’t voting for this either way. So leadership can probably let those complaints roll off their back.”
Biden Will Push Higher Taxes for the Rich
“President Joe Biden will advocate plans to increase taxes on the wealthy and corporations as well as to lower prescription drug prices in his State of the Union address next week, in what aides describe as an effort to lay out second term proposals for protecting and implementing his economic agenda,” Bloomberg reports.
Congress Passes Bill to Avert Government Shutdown
“Congress approved a temporary spending bill to prevent a partial government shutdown this weekend, with Speaker Mike Johnson forced once again to turn to a coalition made up mostly of Democrats to clear it in the House, followed by passage in the Senate,” the Wall Street Journal reports.
House Passes Short Term Bill to Avert Shutdown
“House lawmakers approved a temporary spending bill to prevent a partial government shutdown this weekend, with Speaker Mike Johnson forced once again to turn to a coalition made up mostly of Democrats to pass it,” the Wall Street Journal reports.
“The vote was 320 to 99, with slightly more than half of Republicans joining with almost all Democrats to support the measure.”
The Senate is expected to take up the measure this evening.
Congressional Leaders Strike Deal to Avert Shutdown
“Congressional leaders said on Wednesday they had agreed to another short-term stopgap spending bill to head off a partial government shutdown at the end of the week, paving the way for a temporary path out of a stalemate that has repeatedly threatened federal funding over the past six months,” the New York Times reports.
“The deal, initially floated by Speaker Mike Johnson, would extend funding for some government agencies for a week, through March 8, and the rest for another two weeks, until March 22.”
Congress Closing In on Partial Budget Deal
Lawmakers on Capitol Hill could strike a partial budget deal to temporarily avert a government shutdown “as soon as today,” CNBC reports.
Negotiators are working on an agreement for six funding bills, four of which expire Friday.
Senate GOP May Be Warming to Tax Bill
“Fissures are forming among Republicans on the Senate Finance Committee over the House-passed $78 billion tax bill, with some looking to pass the legislation as-is while others demand concessions that risk sinking it,” Semafor reports.
Senate GOP Fears House Headed Toward Shutdown
“Senate Republicans are trying to wave their House GOP counterparts away from blundering into a partial government shutdown at week’s end, something that looks increasingly likely given Speaker Mike Johnson’s (R-LA) unstable grip on power over a narrow majority,” The Hill reports.
“GOP senators warn a shutdown for any reason would be a political loser and imperil their prospects in November.”
Congress Scrambles to Avoid Embarrassing Shutdown
“Top lawmakers sounded more bullish Monday night about avoiding a partial government shutdown at week’s end as the Senate returned to session with hopes of announcing a deal in the next 24 to 48 hours,” Politico reports.
Punchbowl News: “It’s Tuesday and we still haven’t seen any paper outlining the four-bill spending package that needs to pass by Friday at midnight. Any legislation must be released today in order for House Republican leadership to adhere to its three-day rule and still avert a shutdown Friday at midnight without passing a CR. Although a short-term stopgap bill looks more likely with each passing moment.”
Schumer Pins Possible Shutdown Blame on Trump
“With a partial government shutdown looming on March 1, Senate Majority Leader Chuck Schumer warned today that House Republicans – and former President Donald Trump – would take the blame,” Punchbowl News reports.
Said Schumer: “While we’ve made some good progress on a number of fronts, unfortunately our House Republican colleagues are still struggling to figure themselves out…”
He adds: “We want to work with all our House counterparts to spare the American people of the pain that a shutdown would bring. But for that to happen, congressional leadership must resist the centrifugal pull of extremism emanating from the hard right. We must resist basing our choices on what people like Donald Trump want Congress to do.”
Top Republican Says Tax Hikes Should Be Considered
“The chair of the House Budget Committee has a message for his fellow Republicans: If they ever want to fix Washington’s finances, they’ll have to talk about raising taxes,” Semafor reports.
Said Rep. Jodey Arrington (R-TX): “It’s only fair to have both revenue and expenditures on the table. The last time there was a fix to Social Security that addressed the solvency for 75 years, it was Ronald Reagan and Tip O’Neill, and it was bipartisan. It had revenue measures and it had program reforms. That’s just the reality.”
Government Shutdown Looms
Punchbowl News: “This impasse over government funding is all about House Republicans. Johnson is under pressure from House GOP hardliners who want to string out this fight as long as possible in order to trigger automatic spending cuts. So Johnson is holding out on a number of policy riders.”
“All the other players in these bicameral discussions — Senate Democrats and Republicans, House Democrats and the White House — have pushed for bipartisan deals. But House Republicans won’t go along once again.”
“Johnson, quite frankly, has been hesitant to lead on any issue at all. With the example of former Speaker Kevin McCarthy’s ouster in mind, Johnson won’t overrule the Freedom Caucus.”
“As we’ll get into in a moment, the disagreements, while moderately significant from a policy perspective, don’t feel like they could lead to a shutdown. But hardline conservatives don’t operate under the typical incentive structures that govern national politics.”
Biden to Meet Congressional Leaders Ahead of Shutdown
President Biden will convene the top four congressional leaders at the White House on Tuesday to press lawmakers on passing an emergency aid package for Ukraine and Israel, as well as averting a looming government shutdown next month, the AP reports.
Mike Johnson Unveils His Plan to Avert Shutdown
“Speaker Mike Johnson on Friday night unveiled his plan to avert a partial government shutdown next week, telling Republicans on a conference call that the House would vote on four separate appropriations bills and may need a stopgap funding bill to buy lawmakers more time,” NBC News reports.
“Despite Johnson’s strategy, lawmakers warned about the threat of a brief shutdown at the end of the week given Congress’s tight schedule. House members are not slated to return to Washington until Wednesday night and the Senate could face delays if rabble-rousers like Sen. Rand Paul (R-KY) try to block speedy passage of a funding measure.”
Democrats Warn on Freedom Caucus Demands
“A group of top House Democrats is warning House Speaker Mike Johnson (R-LA) and other congressional leaders not to cave to the right-wing Freedom Caucus’ demands on government spending,” Axios reports.
“Democratic votes in the House will be necessary to pass any spending bill with an actual chance of being signed into law.”
Why Government Funding Is In Trouble
Punchbowl News: “House Republicans filled up their 2024 spending bills with red-meat policy provisions on issues ranging from abortion to guns to DEI programs to strict limits on government spending. But the House Republican leadership knew all along that Democrats, who control the Senate and the White House, would nix these riders in any end-year negotiations. House GOP leaders were only able to pass seven of the 12 bills in their chamber.”
“And now, the dog has caught the car, so to speak.”
“Democrats complain that House Republicans have yet to come to grips with the reality that many of their policy preferences are going to be tossed aside. Not only will the Senate and President Joe Biden reject them, but with House Democrats likely providing the bulk of the votes to pass the spending bills, there’s no way for Republicans to win this showdown.”
Freedom Caucus Raises Risk of Government Shutdown
“The House Freedom Caucus is officially pushing a one-year spending stopgap that could trigger a government shutdown if embraced by Speaker Mike Johnson,” Axios reports.
“Johnson can risk a shutdown by siding with the Freedom Caucus on the lengthy spending stopgap. Or he can risk a challenge to his speakership by working with Democrats to pass a new budget that avoids the across-the-board cuts.”