House unveils Trump-backed bill to avert government shutdown
Published On Mar 8, 2025, 2:48 PM
House Republicans have unveiled a spending bill aimed at preventing a government shutdown through the end of September. This bill, which is backed by former President Trump, is set to face challenges in Congress as it may pass without Democratic support, relying on moderate Republicans in the Senate to reach the necessary 60 votes. The bill proposes a cut to discretionary spending and includes funding for increased immigration enforcement and military spending. It has drawn criticism from Democrats who view it as a means to empower controversial fiscal policies led by billionaire Elon Musk.
Stock Forecasts
LMT
Positive
With a potential government shutdown looming, the passage of this bill could stabilize market sentiment temporarily, particularly in defense and security sectors. The bill's provisions for increased military spending and the defense industry's priorities may boost relevant stocks.
NOC
Negative
On the other hand, there could be a negative reaction from the market if the bill fails to pass, leading to uncertainty which traditionally spooks investors. Companies reliant on government contracts might see volatility or declines if funding is cut or stalled.
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