US: House Republicans Tee Up Party-Lines Votes On Spending Bill
Dec-20 15:39
Rep. Ralph Norman (R-SC), a conservative member of the House Rules Committee, has told reporters that House Republican leadership has drafted a new spending package and will take it through the Rules Committee just after 11:00 ET 16:00 GMT.
- If House Speaker Mike Johnson (R-LA) can discharge the bill to the House the floor via the Rules Committee, it will only require a simple majority to pass, meaning the GOP can pass the bill along party lines without Democrat support.
- Norman, one of the 38 Republicans who tanked yesterday's spending bill, said he is supportive of the bill but declined to divulge any other details of the plan. Johnson taking the bill through rules strongly suggests that the final package will be a partisan bill, drafted without Democrat input.
- Manu Raju wrote on X a short time ago: "With time ticking til midnight, House Rs considering several options to get out of the funding mess. Among them: dropping the suspension of the national debt limit, which Trump demanded, and moving a short-term clean stop-gap, per sources. It’s unclear which route they go."
- According to Polymarket, the implied probability of a government shutdown has dropped to around 50%, down from a high of 75% late yesterday.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US: Commerce Sec Raimondo To Allocate CHIPS Funding Before Trump Takes Office
Nov-20 15:36
Commerce Secretary Gina Raimondo told Politico she intends to allocate all the USD$50 billion of funding from the 2022 CHIPS and Science Act before US President-elect Donald Trump takes office. Raimondo's comments point to a hectic two months of implementation before the Trump administration has an opportunity to unwind big-spending Biden administration programmes.
- Raimondo: “I’d like to have really almost all of the money obligated by the time we leave. That’s the goal, and I certainly want to have all the major announcements done as it relates to the big, leading-edge companies.”
- Politico notes: “The Chips money alone is a massive undertaking. Congress allocated $50 billion in subsidies for semiconductor manufacturing and R&D. So far only two companies have received binding awards from the Department of Commerce’s manufacturing program. To hit her target, Raimondo still needs to nail down contracts with Intel, Micron, Samsung and SK hynix — multi-billion-dollar deals that have, at times, been rocky and required renegotiations.”
MNI: **US EIA: CRUDE OIL STOCKS EX SPR +0.54M TO 430.3M NOV 15 WK
Nov-20 15:30
- US EIA: CRUDE OIL STOCKS EX SPR +0.54M TO 430.3M NOV 15 WK
- US EIA: DISTILLATE STOCKS -0.11M TO 114.3M IN NOV 15 WK
- US EIA: GASOLINE STOCKS +2.05M TO 208.9M IN NOV 15 WK
- US EIA: CUSHING STOCKS -0.14M TO 25.1M BARRELS IN NOV 15 WK
- US EIA: SPR +1.4M TO 389.2M BARRELS IN NOV 15 WK
- US EIA: REFINERY UTILIZATION WEEK CHANGE -1.2% TO 90.2% IN NOV 15 WK
PIPELINE: $3.5B International Development Assn (IDA) 5Y SOFR Launched
Nov-20 15:28
- Date $MM Issuer (Priced *, Launch #)
- 11/20 $3.5B #International Development Assn (IDA) 5Y SOFR+47
- 11/20 $600M Adani 20Y +7.45%
- 11/20 $BenchmarkPrinciple Life 5Y +90a
- 11/20 $Benchmark BP Capital 2027 tap, 5Y, 2034 tap
- 11/20 $Benchmark Smurfit Westrock Financing 10Y +130a
- 11/20 $Benchmark Blackstone Private Credit Fund 5Y +185a, 10Y +215a
- 11/20 $Benchmark State Street Bank & Trust 2Y +55a, 2Y SOFR, 5Y +75a
- 11/20 $Benchmark AppLovin 5Y +115a, 7Y +135a, 10Y +145a, 30Y +175a
- 11/20 $Benchmark Commonwealth Bank of Australia (CBA) 2Y +50a, 2Y SOFR
