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Welcome to The Hill’s Business & Economy newsletter
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Business & Economy
Business & Economy
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The Big Story
House moves on plan C
The House on Friday will try again to avert a government shutdown, holding a vote on a revamped spending package that excludes the debt limit hike initially demanded by President-elect Trump.
The package would fund the government at current levels through March 14, extend the farm bill by one year and appropriate billions of dollars in disaster aid and assistance for farmers.
The same provisions were included in Speaker Mike Johnson’s (R-La.) plan B proposal that failed on the House floor Thursday night.
Without congressional action, large parts of the federal government would shut down just after midnight.
Johnson emerged from a tense two-hour GOP conference meeting in the Capitol basement with less than eight hours to go until the deadline to announce the developments and vow there would be no shutdown.
“There is a unanimous agreement in the room that we need to move forward,” he told reporters.
“We will not have a government shutdown,” he continued. “And we will meet our obligations for our farmers who need aid, for the disaster victims all over the country, and for making sure that military and essential services and everyone who relies upon the federal government for a paycheck gets paid over the holidays.”
The House is expected to start voting on the bill between 5 and 5:30 p.m. ET.
The Hill’s Mychael Schnell, Mike Lillis and Emily Brooks have more here.
Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley and Taylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.
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Programming Note
The Business & Economy newsletter will be taking a break next week, but we’ll be back in your inbox on Dec. 30! Happy Holidays!
Essential Reads
Key business and economic news with implications this week and beyond:
Democrats pledge to work through Christmas on funding to rebuff Trump’s demands
Senate Appropriations Committee Chair Patty Murray (D-Wash.) said Friday she’s ready to stay in Washington “through Christmas” to fight off President-elect Trump’s demand to strip negotiated provisions out of a bill to fund the government into 2025.
Full Story
Watchdog accuses Zelle, banking giants of failing to protect users against fraud
The government’s consumer watchdog alleged Zelle and three banking giants failed to protect users from fraud on the peer-to-peer payment network.
Full Story
Biden canceling student loan debt for 55K public service workers
President Biden announced on Friday he would be canceling more student debt for tens of thousands of public service workers, possibly his last major move on the issue before leaving office in a month.
Claire Salas is a news writer with Premium News Updates, where she covers lifestyle, books, sports, and education. She's also a technology enthusiast who loves to keep up with the latest trends in gaming. In her spare time, she enjoys spending time with her family and friends, going on walks, and getting lost in a good book.
