Bloomberg Businessweek

Instant Reaction: Trump-Backed Funding Plan Fails

8 snips
Dec 20, 2024
Mike Dorning, Bloomberg's deputy team leader covering Congress, shares insights on the recent failed funding plan backed by President-elect Trump. He discusses the backlash from both Democrats and conservatives that led to the government's funding jeopardy. Dorning analyzes how Trump's criticism of bipartisan efforts complicates congressional negotiations and explores the potential implications of an impending government shutdown. He highlights the pivotal role of political influence as leaders grapple with the daunting task of securing necessary support in a divided House.
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INSIGHT

Funding Bill Rejected

  • The House rejected a stopgap funding bill backed by President-elect Trump.
  • This bill included a two-year suspension of the debt limit.
INSIGHT

Trump's Shift in Support

  • President-elect Trump's support for the bill wavered.
  • This shift occurred after Elon Musk criticized the bill online.
INSIGHT

Debt Limit Sticking Point

  • Suspending the debt limit was a major sticking point.
  • Trump wanted the debt limit addressed under Biden's presidency.
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