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Writer's pictureBy The Financial District

McCarthy Demands 8% Spending Cut To Avert Shutdown

House Speaker Kevin McCarthy has announced demands to prevent a US government shutdown set for October 1st, proposing a one-month delay.


Speaker McCarthy presented the plan during a conference call with GOP lawmakers on Sunday evening after negotiators representing key factions within the House GOP reached an agreement on the conditions to temporarily fund the government for 31 days. I Photo: Speaker Kevin McCarthy Facebook



These demands include implementing an 8% temporary spending cut for domestic agencies and resuming border wall construction, as reported by Erik Wasson and Billy House for Bloomberg News.


McCarthy presented the plan during a conference call with GOP lawmakers on Sunday evening after negotiators representing key factions within the House GOP reached an agreement on the conditions to temporarily fund the government for 31 days.



A House vote on this measure is scheduled for Thursday.


However, McCarthy has already encountered opposition from GOP ultra-conservatives that could potentially derail the plan. Six hard-right lawmakers quickly voiced their opposition.


McCarthy can only afford to lose four Republicans without relying on Democratic support.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

These demands, which also involve restrictions on migrants' ability to seek asylum in the US, are opposed by most Democrats and are unlikely to gain acceptance in the Democratic-led Senate.


Consequently, the bill does not diminish the risk of a government shutdown.


Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

Furthermore, the bill does not include emergency Ukraine war funds or disaster aid, including relief for victims of Maui wildfires and a Florida hurricane, which were requested by President Joe Biden's administration.




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