Bloomberg Surveillance Instant Reaction: Trump-Backed Funding Plan Fails
Dec 20, 2024
Mike Dorning, Bloomberg's Capitol Influence deputy team leader, offers keen insights into the recent House vote that rejected a temporary funding plan advocated by Donald Trump. He shares the implications of this political stalemate and discusses the critical absence of bipartisan support. Dorning explores how key figures like Trump influence congressional negotiations, and he underscores the looming threat of a government shutdown, highlighting the urgency and uncertainty surrounding federal funding in these turbulent political times.
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Predicted Failure
- The House's rejection of the funding plan was anticipated due to lack of support from both Democrats and conservative Republicans.
- The bill included a two-year suspension of the debt limit, a key point of contention.
Next Steps After Funding Bill Rejection
- The government shutdown is likely to be averted through a temporary funding patch.
- Speaker Johnson will lead discussions to determine the next steps.
Johnson's Leadership in Doubt
- Speaker Johnson's leadership is in question after failing to anticipate the influence of Trump and Musk.
- He misjudged the parameters of an acceptable deal.