Congress Nears Deal on Stopgap Funding to Prevent Government Shutdown

Republican and Democratic negotiators are nearing an agreement for a stopgap bill to fund the U.S. government through March 14, preventing a partial shutdown. The bill will maintain the current $6.2 trillion budget levels. The measure is necessary after Congress failed to pass annual appropriations for the fiscal year beginning October 1.

In a bid to avert a partial government shutdown, negotiators from both Republican and Democratic camps in the U.S. Congress are nearing a consensus on a stopgap funding bill set to extend until March 14, as reported by an insider familiar with the ongoing discussions.

This proposed measure aims to sustain the current $6.2 trillion federal budget, ensuring ongoing funding for key sectors ranging from the military and air traffic control to securities regulation. A Republican Senate aide mentions an extension of the farm bill being part of this package.

The urgency of this stopgap solution stems from Congress's inability to enact the twelve annual appropriations required for the current fiscal year, which commenced on October 1. The unresolved funding gap is also adding to the national debt burden, which now exceeds $36 trillion, a matter Congress must confront when the nation's debt ceiling extension deal lapses next year.

(With inputs from agencies.)