Federal agencies would be financed for another month under bipartisan legislation approved by the House on Tuesday, the latest emblem of Congress' persistent inability to finish its budget work on time.
Senate passage, expected perhaps next week, will send the bill to President Joe Biden for his signature. Without that the government would deplete its spending authority on Feb. 18 and have to shutter most of its doors, an election-year embarrassment that neither party wants, and it will not happen.
The bill includes $350 million to address leaking military fuel tanks that have contaminated drinking water near Hawaii's Pearl Harbor, and nearly 6,000 people have complained of illness. The military has moved around 4,000 families into hotels and flown in water treatment systems from the U.S. mainland.
Tuesday's House vote was 272-162. All but one voting Democrat supported the bill, but it was opposed by more than 3 in 4 Republicans, who often use such votes to portray themselves as fiscal conservatives.
The short-term measure would fund government at last year’s levels through March 11. Congressional leaders say they hope that will give bargainers time to reach agreement on overall spending totals, and then write the 12 bills that spell out details on how agencies will spend that money.
Those bills finance everything from the armed forces to programs for education, the environment, veterans and public health. In addition, a portion of the 10-year, $1 trillion infrastructure bill — about $14 billion this year — can't be committed to projects until Congress approves a spending bill formally providing the money.
The government's budget year runs from Oct. 1 through Sept. 30. It's been many years since Congress has finished all its budget bills by Oct. 1 because of partisan fights over priorities.
“No one wins" when Congress has to rely on short-term legislation to finance agencies piecemeal, said Rep. Rosa DeLauro, D-Conn., who chairs the House Appropriations Committee. The top Republican on that panel, Rep. Kay Granger of Texas, said that while no one wants another stopgap bill, “the alternative is much worse" — a reference to a federal shutdown.
The Cowboy State has become one of the world's top tax havens, according to the Pandora Papers, a trove of more than 11.9 million documents obtained by the International Consortium of Investigative Journalists and The Washington Post. The papers reveal, among other things, how ultra-wealthy people from around the world move money into the U.S., invest, and spend it under a shroud of secrecy. Allison Tait, University of Richmond law professor, joined Cheddar to talk about Wyoming's laidback tax laws, their impact on the nation's economy, and provided some details on the financial arrangement known as the "cowboy cocktail."
Carlo and Baker preview President Biden's address to the nation as Omicron becomes the new dominant Covid strain. Plus, Trump gets booed for getting his booster and the White House gets a new puppy.
China and Russia are saying they want to work closer together in different areas after a recent call between Presidents Xi Jinping and Vladimir Putin. What are the implications of a close partnership between Beijing and Moscow? Cheddar News breaks things down with expert Hagar Chemali.
Michele Schneider, Partner and Director of Trading Research & Education for MarketGauge.com, joins Cheddar News' Closing Bell, where she says the spread of the Omicron variant and Jerome Powell's comments following the latest Fed decision are spooking investors heading into the weekend.
Carlo and Baker wrap up another week discussing the latest explosion in new Covid cases in the Northeast, President Biden's stalled agenda and more. Plus, Love, Hate, Ate featuring the question: why did movie dialogue get so hard to understand?
Since July 2021, families with children have received monthly payments from the federal government as part of the expanded child tax credit, a policy that may be expiring this month. Megan Curran, policy director at the Center on Poverty and Social Policy at Columbia University, joined Cheddar News to discuss.
During the pandemic, student loan debt repayment was put on pause amid an unprecedented crisis. However, on February 1, 2022, the schedule is set to resume, and currently it looks as though the Biden administration has no plans to extend it. Cody Hounanian, the executive director of the Student Debt Crisis Center, spoke to Cheddar about why he believes the loan collection pause needs to at least be extended as borrowers are still struggling with the resurgent pandemic and inflation. "There's really no good economic or policy or political reason as far as why they're focused on getting payments started now," Hounanian said. "We surveyed 33,000 people with student loans last month. Nine out of 10 told us that they are not ready to resume payments."
As the 2022 midterm elections fast approach, here are some politicians Americans should be on the lookout for. Democratic Massachusetts state senator Sonia Chang-Diaz, who was the first Latina and Asian American woman to be elected to the state's senate, now has her eye on the governorship with Republican Charlie Baker leaving. New Jersey GOP candidate for Congress, Billy Prempeh also bears watching, and while Boston's newest mayor, Democrat Michelle Wu, was already sworn in last month, all eyes will be on Beantown as the first woman and first person of color to hold the office tries to usher in a new era for the city.
