Bloomberg News
@Bloomberg-News·2.8M subscribers·40.1K videos
Pelosi Signs Stopgap Funding Bill to Avert Government Shutdown
Posted
September 30, 2021
Views
1,139
Likes
15
Comments
13
Engagement
September 30, 2021
1,139
15
13
2.46%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
1:40Now PlayingWith only hours to spare, Congress passed legislation that would avoid a partial federal shutdown and keep the government funded through Dec. 3.
House Speaker Nancy Pelosi signed the bill, before sending it to the White House for President Joe Biden's signature.
The back-to-back votes by the Senate and then the House will help avert one crisis, but just delay another as the political parties dig in on a dispute over how to raise the government's borrowing cap before the United States risks a potentially catastrophic default.
The House approved the short-term funding measure by a 254-175 vote not long after Senate passage in a 65-35 vote.
A large majority of Republicans in both chambers voted against it. The legislation was needed to keep the government running once the current budget year ended at midnight Thursday.
Passage will buy lawmakers more time to craft the spending measures that will fund federal agencies and the programs they administer.
The work to keep the government open and running served as the backdrop during a chaotic day for Democrats as they struggled to get Biden’s top domestic priorities over the finish line, including a bipartisan $1 trillion infrastructure bill at risk of stalling in the House.
With their energy focused on Biden's agenda, Democrats backed down from a showdown over the debt limit in the government funding bill, deciding to uncouple the borrowing ceiling at the insistence of Republicans.
If that cap is not raised by Oct. 18, the U.S. probably will face a financial crisis and economic recession, Treasury Secretary Janet Yellen said.
Republicans say Democrats have the votes to raise the debt limit on their own, and Republican leader Mitch McConnell of Kentucky is insisting they do so.
The short-term spending legislation will also provide about $28.6 billion in disaster relief for those recovering from Hurricane Ida and other natural disasters, and help support Afghanistan evacuees from the 20-year war between the U.S. and the Taliban.
Once the government is funded, albeit temporarily, Democrats will turn their full attention to the need to raise the limit on federal borrowing, which now stands at $28.4 trillion.
Subscribe to our YouTube channel
Subscribe to our newest channel Quicktake Explained
Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
To watch complete coverage on Bloomberg Quicktake 24/7, visit or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app.
Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake
Connect with us on…
Breaking News on YouTube
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
