US House of Representatives to Pass Stopgap Bill to Avoid Government Shutdown
U.S. Representatives plan to pass a temporary budget bill that will prevent a government shutdown and buy them time to debate on spending levels for the rest of the fiscal year. This bill is the compromise that the House Republicans came up with the Senate Democrats.
The proposed budget bill will cut $4 billion from the budget and will target a few programs and keep most of the federal agencies at their current spending levels until March 18. Failure to reach a compromise before March 4 will result to the dreaded government shutdown.
House Majority Leader Eric Cantor of Virginia stated that it is not their intention to shut down the government and now it’s up to the Senate to decide whether the government will shut down or not. The Senate Democrats have stated that they would do everything to prevent such a thing from happening.
The House leadership passed a legislation last February that would cut the government spending by $61 billion. The bill called for large reductions in various government programs. The Senate Democrats didn’t agree with the House and stated that the cuts could slow down the economic recovery of the nation.
The two-week spending bill will cut $1.3 billion from eight programs that President Obama has already intended to make cuts. The rest of the spending cuts will come from the unspent funds of lawmaker’s pet projects.