House and Senate leaders are poised to announce an agreement Sunday afternoon on overall funding levels, the first step to averting a shutdown later this month even as that threat still looms. Congressional sources said that House Speaker Johnson and Senate Majority Leader Chuck Schumer have signed off on the dollar amount of overall federal spending for this fiscal year and will announce it Sunday afternoon. While their agreement on funding levels will reduce the chances of a shutdown, there are still major hurdles facing Congress ahead of two funding deadlines: January 19 and February 2. Congress will still have to approve funding bills — or a stop-gap resolution to avoid a shutdown by the deadlines. And it remains uncertain how that effort will play out even though Schumer and Johnson have a deal on funding levels.

Source: CNN January 07, 2024 20:30 UTC