The U.S. federal government was two days from a partial shutdown on Friday, as a handful of hardline House Republicans refused to support a bipartisan stopgap spending bill meant to give lawmakers more time to negotiate a full-year deal.
The National Park Service will close, the Securities and Exchange Commission will suspend most of its regulatory activities andwill be furloughed beginning at 12:01 a.m. ET on Sunday if Congress does not pass a spending package that can be signed into law by President Joe Biden before then.
The shutdown would be the fourth in a decade and comes just four months after a similar standoff brought the federal government within days of defaulting on its $31 trillion -plus in debt. The repeated brinkmanship has raised worries on Wall Street, where Moody's has warned it could damage the nation's creditworthiness.
Former President Donald Trump, Biden's likely election opponent in 2024, has taken to social media to push his congressional allies toward a shutdown.House Republicans expressed annoyance late Thursday with their hardline colleagues, who have stymied the process at almost every turn. "We don't have a good position going into what would be a negotiation with the Senate," he told Reuters.
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