Congress Buys Time: Government Shutdown Postponed by Two Weeks | Financial Buzz

Congress Buys Time: Government Shutdown Postponed by Two Weeks

Congress has bought some time with the passing of a two-week stopgap for the funding of the border wall. Thursday, a short-term spending bill was approved with the goal of postponing negotiations. The recent death of President George H. Bush has caused a delay in the legislative process and this bill, which is expected to be signed by the President, will give legislators more time to discuss funding for, not just for the Department of Homeland Security (which includes the fund for the wall), but six other government agencies.

The Homeland Security funding, of course, is the main point of debate among Congress. Trump is demanding USD 5 million for concrete parts for the border wall. Highlighting the necessity of a border wall, the President tweeted that its construction would prevent the United States from losing USD 250 billion a year due to illegal immigration.

Democratic leaders, on the other hand, are not as inclined to fund the wall as their Republican counterparts. Senate Minority Leader, Chuck Schumer, along with other Senate Democrats, have said that they would allow USD 1.6 billion to be allotted for the security of the border. Rather than a physical wall which House Minority Leader Nancy Pelosi, in a press conference Thursday, had called “Immoral, ineffective and expensive”.

Democrats support the maintenance of a border fence, which is much less of a burden on the Government budget. When Pelosi had been asked if a permanent DACA solution was offered in exchange for wall funding, Pelosi declined because “they’re two different subjects”.  With the stopgap, the funding deadline will be pushed back to Dec. 21st.