Business & Economy

Business & Economy

The Big Story 

Hardline conservatives are tossing cold water on the party’s newly unveiled plan to avert a shutdown, threatening chances of passage in the lower chamber. 

© Greg Nash

The bill features several components designed to lock down support from the party’s various factions.

The measure seeks to cut discretionary spending by roughly 8 percent while also allowing for exemptions for areas like defense, veterans and disaster relief.  

The also includes policies from House Republicans’ signature border bill, which would restart construction of the southern border wall, restrict access to asylum and boost hiring of border agents.

The funding deal was worked out between leaders of the Main Street Caucus and House Freedom Caucus. It is seen as the opening bid by House Republicans as negotiations are expected to pick up. 

But the legislation, which would punt a shutdown and buy time for spending talks, is already facing criticism from conservatives.

“A CR is a continuation of Nancy Pelosi’s budget and Joe Biden’s policies,” Rep. Matt Rosendale (R-Mont.) wrote on X, the platform formerly known as Twitter.  

“We were assured in January that we weren’t going to use the Democrats’ gimmicks to fund government and that we would deliver the 12 appropriations bills,” he continued.

Republican Reps. Andy Biggs (Ariz.), Marjorie Taylor Greene (Ga.), Tim Burchett (Tenn.), Matt Gaetz (Fla.), Ralph Norman (S.C.), Anna Paulina Luna (Fla.), Ken Buck (Colo.), Victoria Spartz (Ind.) and Andy Ogles (Tenn.) have also either said they will vote against the legislation or are leaning against it. 

The Hill’s Emily Brooks and Mychael Schnell have more here.  

Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley and Taylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.

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Essential Reads 

Key business and economic news with implications this week and beyond:

WHIP LIST: House GOP fights to win over members on stopgap to prevent shutdown

Yellen says it’s too soon to gauge economic impact of UAW strike

UAW president: White House will have no role in negotiating agreement to end strike

Clorox says its earnings will take a hit from cyberattack

The Ticker 

Upcoming news themes and events we’re watching:

In Other News 

Branch out with more stories from the day:

Norfolk Southern announces details of plan to pay for lost home values because of Ohio derailment

Norfolk Southern announced new details Monday about its plan to compensate East Palestine residents …

Good to Know 

Business and economic news we’ve flagged from other outlets:

What Others are Reading 

Top stories on The Hill right now:

House GOP deal to avert shutdown gets icy reception from conservatives

House Republicans’ proposed short-term spending bill is facing internal opposition that could sink the measure and complicate the conference’s attempt to show unity in its opening offer to the Senate and White House. Read more

Democrats move to suspend Senate rules to advance stalled spending bill 

Senate Democrats on Monday moved to suspend the Senate’s rules to advance a stalled government funding bill after Sen. Ron Johnson (R-Wis.) objected to the legislation last week. Read more

What People Think 

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