US Shutdown Tensions... Republicans Block Democrat-Led Reconciliation Bill in Senate

[Asia Economy Reporter Bu Aeri] A bill to fund the federal government and suspend the debt ceiling to prevent a U.S. government shutdown was blocked by Republican opposition in the Senate.

According to foreign media including The Wall Street Journal (WSJ), on the 27th (local time), the Senate held a procedural vote to end the Republican filibuster (legal obstruction of parliamentary proceedings), resulting in 48 votes in favor and 50 against, failing to reach the 60 votes needed for approval.

The bill aims to fund the federal government until December 3 and suspend the debt ceiling until December 16 of next year.

It passed the House on the 21st and moved to the Senate. The Democrats have been pushing for the bill to be passed in the Senate before the end of this fiscal year on the 30th. If the bill is not passed by that date, the federal government could face a partial shutdown, impairing its functions.

The Republicans reportedly voted against the bill in opposition to the Biden administration’s large-scale infrastructure budget plan and related measures such as tax increases on the wealthy.

If the two parties fail to reach a compromise on the budget and debt ceiling adjustments by the 30th, the Biden administration could face its first shutdown since taking office.

Since the U.S. federal debt has already exceeded the legally set limit of $28.78 trillion (approximately 3,410.1 trillion KRW), concerns have been raised that if the debt ceiling is not raised, the U.S. could face an unprecedented national default next month.