Billions in GDP lost during first week of government shutdown, Johnson says

As the federal government shutdown hits the one week mark, House Speaker Mike Johnson, R-La., is urging Democrats to vote for Republicans’ funding bill to prevent permanent damage to the U.S. economy.

“Each week the shutdown continues, it will wipe out an estimated $15 billion in our Gross Domestic Product in our country,” Johnson told reporters Tuesday, referencing calculations released by the White House.

“A month-long shutdown would mean not just 750,000 federal civilian employees furloughed right now, but an additional 43,000 more unemployed Americans across the economy, because that is the effect, the ripple effect that it has in the private sector,” he added.

Congress, however, shows no signs of coming to a funding agreement to open the government anytime soon. Two options lay on the table: Republicans’ clean Continuing Resolution that would extend government funding for seven weeks, or Democrat’s $1.4 trillion spending bill.

Democratic leaders oppose Republicans’ bill because it does nothing to prevent the enhanced Obamacare Premium Tax Credits from expiring in December, a policy issue that they believe must be addressed now to prevent millions of Americans’ health care premiums from spiking.

- Advertisement -

Republican leaders have said they are willing to discuss the issue with Democrats, but only after the government reopens.

“We are pleading with Democrats in the Senate to do the right thing,” Johnson said. “There’s a lot of end-of-year issues that are being conflated with this very simple issue of keeping the government open, and that is the first and most immediate priority.”

At least eight Senate Democrats need to vote for the clean CR for it to clear the chamber’s 60-vote threshold. So far, only three members of the Democratic Caucus have lent their support.

Senators may vote for the sixth time on both parties’ proposals Tuesday evening. As of the afternoon, the U.S. Senate Periodical Press Gallery says votes on the bills “are possible but they are not scheduled at this time.”

The last time federal funding lapsed occurred in late 2018, and the shutdown lasted a record 35 days.

spot_img
spot_img

Hot this week

Health care company agrees to pay $22.5 million to settle claims of over billing

A health care company agreed to pay nearly $22.5...

Business association ‘disappointed’ by WA L&I’s proposed workers comp rate hike

(The Center Square) – The Association of Washington Business...

Sports betting bill still alive in Georgia House

(The Center Square) – A bill that would allow...

Sports betting expert offers advice on paying taxes for gambling winnings

(The Center Square) – Tax season is underway, and...

African and Caribbean Nations Call for Reparations for Slave Trade, Propose Global Fund

Nations across Africa and the Caribbean, deeply impacted by...

New Sound Transit Line opens but future lines are short funding

(The Center Square) - Seattle's long delayed light rail...

Virginia voters split on redistricting amendment

(The Center Square) – Virginia voters say they don’t...

Indianapolis inspires Pittsburgh police to solve leadership problem

(The Center Square) – The Pittsburgh Bureau of Police...

Mapping in more money to North Carolina’s highways

(The Center Square) – North Carolina should be getting...

Op-Ed: Missouri businesses are paying the price for copper and fiber theft

Driven by rising demand and increasing global prices for...

Fraud Task Force: Minnesota SNAP reciepts not available

(The Center Square) – Vice President JD Vance held...

Illinois ride-share union bill pushed through amid disagreement on new fee

(The Center Square) – An Illinois bill allowing thousands...

Senate passes revamped House bill requiring hand-marked ballots

(The Center Square) – Three weeks after the Georgia...

More like this
Related

New Sound Transit Line opens but future lines are short funding

(The Center Square) - Seattle's long delayed light rail...

Virginia voters split on redistricting amendment

(The Center Square) – Virginia voters say they don’t...

Indianapolis inspires Pittsburgh police to solve leadership problem

(The Center Square) – The Pittsburgh Bureau of Police...

Mapping in more money to North Carolina’s highways

(The Center Square) – North Carolina should be getting...