- According to the report, President Donald Trump said that he would sign the bill “immediately.”
- Once signed, it will grant full-year funding for the federal government at the end of September.
- However, the Department of Homeland Security has received an extension for funding only through Feb. 13.
The House of Representatives reportedly approved a funding package in a 217-214 vote on Tuesday, effectively ending the brief partial government shutdown that started over the weekend.
According to a report from NBC, President Donald Trump said that he would sign the bill “immediately.”
Once signed, it will grant full-year funding for the federal government at the end of September. However, the Department of Homeland Security has received an extension for funding only through Feb. 13.
What Was The Shutdown About?
The partial shutdown that began on Saturday was over Democrats objecting to the killing of two protesters in Minneapolis by federal immigration agents.
The Senate separated DHS funding from other agencies to avoid a prolonged shutdown.
According to a report from CBS, Senate Minority Leader Chuck Schumer said that the Democrats are planning to present a detailed proposal on DHS reforms soon. Schumer reportedly said the proposal would be similar to what Democrats have already laid out.
Meanwhile, Trump on Monday said in a Truth Social post that Democrats and Republicans would work together “in good faith to address the issues that have been raised, but we cannot have another long, pointless, and destructive Shutdown that will hurt our Country so badly — One that will not benefit Republicans or Democrats. I hope everyone will vote, YES!”
Data Delays
The partial shutdown has already affected key data releases. The Bureau of Labor Statistics has said that it will not be releasing the latest January jobs report on Friday.
The BLS had clarified that even if the funding was restored, the partial shutdown would impact several key reports scheduled to release this week, including December’s Job Openings and Labor Turnover Survey release, and the Metropolitan Area Employment and Unemployment release, in addition to the jobs data.
Meanwhile, U.S. equities ended Tuesday in red. The SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, closed 0.85% lower, the Invesco QQQ Trust ETF (QQQ) was down 1.54% at close, and the SPDR Dow Jones Industrial Average ETF Trust (DIA) declined 0.35%. Tech-heavy Nasdaq-100 (NDX) fell 1.55% at close.
Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bearish’ territory.
The iShares 20+ Year Treasury Bond ETF (TLT) was up 0.24% at market close, while the iShares 7-10 Year Treasury Bond ETF (IEF) ended 0.09% higher.
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