Bloomberg Daybreak: US Edition Instant Reaction: Trump-Backed Funding Plan Fails
Dec 20, 2024
Mike Dorning, Bloomberg's Capitol Influence deputy team leader, offers sharp insights from Washington, D.C. He discusses the recent rejection of a vital funding bill by the Republican-led House, which may lead to a government shutdown. Dorning delves into the chaos that unfolded, highlighting the deep divides in Congress and President-elect Trump's contentious influence. The conversation also touches on the repercussions of Musk's criticisms and the shifting power dynamics within the GOP, as they navigate a precarious legislative landscape.
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Expected Rejection
- 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 debt limit suspension and had President-elect Trump's backing.
Musk's Influence
- Trump's opposition to the bill came after Elon Musk criticized it online.
- Musk's online criticism of the bill throughout Wednesday influenced Trump's decision.
Debt Limit Sticking Point
- Suspending the debt limit was a key sticking point.
- Trump aimed to suspend it under Biden's presidency to avoid concessions to Congress and because many Republicans oppose raising it.