House Lawmakers to Vote on Funding Bill

House lawmakers are getting ready to vote on Thursday to prevent a government shutdown, giving themselves more time to finalize a larger funding agreement.

Temporary Funding Measure

The House of Representatives is set to vote on a bill to provide temporary funding for one group of federal agencies until March 8 and another group until March 22.

Longer-Term Funding Plans

During this period, Congress will work on passing legislation to fund the government for the rest of the budget year.

Implications of Inaction

If no action is taken, some agencies, like the Department of Agriculture, will partially close this weekend. Other agencies, such as the Pentagon, will also face partial closure after March 8.

Potential Impact

While investors may not feel much impact from a brief shutdown, farmers could lose access to loans, IPOs might be put on hold, and federal employees, including U.S. troops, may not receive their pay.

Approval Required

To prevent a partial shutdown, both the House and Senate need to approve the deal. With Republicans holding a slim majority in the House, Speaker Mike Johnson may need Democratic support to pass the temporary spending measure.

The Associated Press contributed to this report.