US Home Republicans plan shutdown-averting measure amid credit score warning

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A educated supply, who spoke on situation of anonymity, mentioned plans for the discharge of the persevering with decision, or “CR,” have been nonetheless in flux. It was additionally unclear what type the measure would take.

Moody’s cited political polarization in Congress as a consider making its resolution to decrease the credit score outlook, saying Washington could not have the ability to attain settlement to make its rising deficits extra inexpensive.

The U.S. recorded a $1.7 trillion deficit final 12 months – the biggest exterior of the worst of the COVID-19 pandemic – and rising rates of interest imply that the price of servicing that debt will proceed to develop.

However hardline conservatives proceed to press for a measure with spending cuts, insurance policies together with tighter safety on the U.S.-Mexico border and an unorthodox construction with staggered deadlines for various segments of the federal finances.

Many lawmakers warn {that a} extended partisan struggle over a stopgap measure may stop Congress from averting a shutdown.

Reporting by David Morgan; Modifying by Daniel Wallis and Grant McCool

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