A spending bill backed by Donald Trump failed in the House of Representatives as many Republicans defied the president-elect. The failure brings the U.S. closer to a government shutdown, with federal agencies potentially ceasing operations days before Christmas. Essential workers would work without pay, while others face furloughs. Public services, including food safety inspections and National Park access, would be impacted. Social Security and Medicare will remain unaffected. Experts warn prolonged disruptions could strain the economy and federal workers.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02A spending bill backed by Donald Trump failed in the House of Representatives as many Republicans
00:06defied the President-elect. The failure brings the U.S. closer to a government shutdown,
00:10with federal agencies potentially ceasing operations days before Christmas. Essential
00:15workers would work without pay, while others face furloughs. Public services,
00:19including food safety inspections and national park access, would be impacted.
00:24Social Security and Medicare will remain unaffected. Experts warn prolonged disruptions
00:28could strain the economy and federal workers. For all things money, visit Benzinga.com.