The U.S. Senate passed a temporary funding bill, pending a vote in the House of Representatives, and it is expected that the government shutdown will end on Wednesday.
The U.S. government shutdown is set to end, as the Senate passes a key agreement and the House prepares to vote.
The US government shutdown has set a historic record of 41 days, with hopes of ending as early as Wednesday after the Senate passed a temporary funding bill supported by eight moderate Democrats. On Monday, the Senate voted 60 to 40 in favor of the Continuing Appropriations and Delay Act, but the bill still needs approval from the Republican-controlled House of Representatives. Speaker of the House, Mike Johnson, said he expects the measure to pass quickly.
According to offices of Republican and Democratic leadership, the House of Representatives, which has not voted since the government shutdown began, is expected to consider the bill on Wednesday. If passed, the bill will be sent to President Trump for signature, who has previously expressed support for the bill.
The core issue of the current government shutdown extending tax credits for Obamacare health insurance remains a contentious issue, with 24 million Americans facing increased premiums, potentially paying hundreds of dollars more each month. Moderate Democrats reached an agreement, relinquishing their demand to extend expiring subsidies of Obamacare.
Moderate Democrats ultimately brokered an end to the government shutdown, accepting a Republican promise that the Senate would vote on extending Obamacare subsidies before mid-December. However, it is not certain that there will be enough Republican support for the subsidies to pass in the Senate. Johnson has stated that he will not commit to a House vote on the matter.
Normalcy in the US aviation industry may take several days to recover, while many of the 42 million low-income Americans enrolled in the Supplemental Nutrition Assistance Program (SNAP) may take longer to receive delayed benefits. As federal agencies reopen, there may be significant backlogs and delays.
This agreement highlights the difficulty Democrats face in Washington under Republican control in resisting Trump's agenda with their limited influence. However, there is some good news for Democrats: polls show that during the government shutdown, blame from the American public for the congressional deadlock was mostly aimed at the Republicans rather than the Democrats themselves. This struggle has put the Trump administration in a highly risky political debate.
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Chen Maobo: Hong Kong's economy continues to improve, with GDP maintaining steady growth for three consecutive years.

The Federal Reserve is about to restart "expanding the balance sheet", possibly announcing it as early as December?

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