00:00The Senate passing legislation to end the government shutdown with support from a handful of Democrats.
00:04The bill now heading to the Republican-controlled House.
00:07Joining us now is Bloomberg's Mike Shepard.
00:09Shep, just walk us through the progress we've made in the last 24 hours and the sequence of things over the next 24.
00:16Well, we saw the Senate reach a breakthrough last night, John,
00:20with the chamber voting 60 to 40 to pass this interim spending measure
00:25that will keep most of the government open at least through January 30th.
00:29And then we saw as part of that eight moderate Democrats conceding, in essence,
00:37joining Republicans in passing this measure.
00:40And that concession really infuriated members across the party and really raised questions,
00:45as you heard from Hakeem Jeffries, about where they would go from here.
00:50But as far as this bill is concerned, it is now in the hands of the U.S. House.
00:54They expect to vote sometime tomorrow.
00:57The exact timing of when they would take it up is unclear.
01:01But Mike Johnson is expecting it to pass.
01:03President Donald Trump has signaled his support for it and is expected to sign it as soon as it hits his desk.
01:09Republicans, as you heard from Mike Johnson, are trying to cast this as a victory.
01:14They are saying that they prevailed holding out against the Democratic holdouts and looking at it as a victory.
01:21Meanwhile, for Democrats, they are regrouping now and trying to figure out how to rebound from this loss.
01:26Now, the question of timing, John, is an interesting one because House members have not been in Washington really since the end of September.
01:34They took their last vote on September 19th and they have to get back to town.
01:38And part of their return could be impeded by some of the disruption to air travel that we have seen caused by the shutdown.
01:45So we'll have to watch that as a question of timing.
01:48And another thing we're going to have to watch is, as I said, not all of the government will be funded through the end of the fiscal year in September.
01:56Most of it, in fact, is only funded through January 30th.
01:59And that tees us up for another potential showdown overspending as soon as we get into the new year, John.
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