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The federal government would fully operate beyond Friday under a proposal made by House Speaker Mike Johnson, a Louisiana Republican.
With a handful of agencies set to begin partially shutting down early Saturday, Johnson is offering a two-part proposal that would postpone deadlines for a funding deal to March 8 and March 22 for different agencies.
A handful of agencies, including the Department of Agriculture, are currently on track to partially close early Saturday. Other agencies, including the Pentagon, would partly shutter after March 8 if no deal is reached.
Senate Majority Leader Charles Schumer, a New York Democrat, said Wednesday that negotiators are “very close” to reaching a deal.
Republicans only narrowly control the House of Representatives, and Johnson could be forced to rely on Democrats to help pass any stopgap spending measures.
Any stopgap “would be part of a larger agreement to finish a number of appropriations bills,” said Johnson press secretary Athina Lawson. That would allow time for legislation to be drafted and reviewed before lawmakers cast their votes.
Investors may not be hurt by a brief shutdown, as stocks
SPX
have risen during previous government closures. But farmers would lose access to loans, initial public offerings could be halted and U.S. troops and other federal employees would go without pay.
Now read: How a government shutdown could affect you and your money
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