The U.S. Government shutdown may finally be nearing its conclusion amid fresh developments. The House Rules Committee has approved a Senate-passed funding bill aimed at reopening federal agencies.
House Panel Clears Path for Final Vote
The House Rules Committee voted 8-4 along party lines to advance a rule to govern debate on the funding bill, according to CBS News. This is a procedural move that allows the legislation to proceed to the full House as early as Wednesday afternoon.
This comes after the Senate advanced the bill on Monday by a 60–40 vote. They seek to restore funding for government operations and put federal operations back into motion after weeks of closure.
The committee rejected several Democratic amendments. This includes one that would have extended expiring health insurance subsidies. Another amendment would stop the law allowing senators to sue for $500,000 if law enforcement agencies seize their data.
That measure was also defeated, however, after members were warned that amendments would send the bill back to the Senate and further delay reopening the government.
House Speaker Mike Johnson is calling on lawmakers to come back to Washington, D.C. in advance of the vote. He said there could be travel disruptions at major airports amid ongoing FAA restrictions. Both chambers were out for the Veterans Day holiday on Tuesday. This basically makes Wednesday the earliest day a vote could be scheduled.
The breakthrough follows several failed attempts from both chambers to agree on a funding plan. Its approval showed bipartisan cooperation in the Senate. The bill was advanced with support from both Republicans and Democrats. Negotiations had been led by eight Democratic senators. They had helped to broker the compromise after 14 unsuccessful rounds of talks.
Under the proposal, most federal agencies would be funded through January 30. Assuming House passage, the bill will then go to the desk of President Trump to be signed into law, officially ending the U.S. Government shutdown.
Potential Impact on Government Reopening Prospects
A number of experts had predicted that the U.S. government shutdown of would see some tokens significantly benefit. For example, analysts at Sistine Research called XRP the “fastest horse” in this rally.
Historically, the end of a U.S. Government shutdown tends to lead to a market rally.. Analysts have also pointed to that the liquidity inflows could improve sentiment. For example, Bitcoin surged 266% five months after the shutdown ended in 2019.
At the moment, Bitcoin trades near $103,000, down about 14% since early October when the shutdown started. The recent volatility became worse due to trade war escalations as well.
Elsewhere, the US Senate Committee published a draft Crypto Asset Market Clarity Act. It proposed that the CFTC be granted expanded authority with respect to digital assets.
Source: https://coingape.com/u-s-government-shutdown-set-to-end-as-house-panel-approves-senate-funding-deal/
