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US democrats, Republicans fail to reach deal on averting gov't shutdown

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US democrats, Republicans fail to reach deal on averting gov't shutdown

2025-09-30 10:45 Last Updated At:17:27

Republican and Democratic leaders failed to reach an agreement in their meeting with U.S. President Donald Trump on Monday that would prevent the potential government shutdown.

The U.S. federal government funding is expected to run out at midnight on Tuesday, putting the government in another shutdown crisis. Trump met at the White House with Senate Democratic Leader Chuck Schumer, Senate Republican Leader John Thune, House Speaker Mike Johnson and House Democratic Leader Hakeem Jeffries to discuss measures to prevent a possible government shutdown.

According to U.S. media reports, the party leaders, after their meeting with Trump, said that there are significant divisions between them, with little progress in the negotiations.

Senate Minority Leader Schumer said after the meeting that there are huge divisions between the Democrats and Republicans on healthcare.

The Democrats advocates for extending the subsidies for the Affordable Care Act, which are set to expire at the end of this year, he said, adding that whether the government goes into shutdown depends on the Republicans.

Meanwhile, House Minority Leader Jeffries said that differences still remain between the two parties, asserting that the Democrats will not support a temporary funding bill drafted by the Republicans.

However, House Speaker Johnson said both Schumer and Jeffries "refuse to acknowledge the simple facts", accusing them of "hostage-taking" and "hijacking" the appropriation process.

He demanded that Democratic senators support the temporary funding bill passed by the House, and said that Democrats would be held accountable for any consequences of a government shutdown.

Earlier this month, the House of Representatives narrowly approved the Republican-drafted plan to keep the government funded until late November, but the Senate blocked it hours later. Currently, the two parties are once again at an impasse over funding, with Democrats seeking negotiations while Republicans hoping to push forward with the earlier version of the bill.

According to U.S. media reports, after Trump's meeting with the congressional leaders on Monday, the Senate is expected to vote again on Tuesday. If the Congress fails to pass the temporary funding bill, the federal government will shut down at 00:00 on Wednesday, forcing hundreds of thousands of federal workers to take unpaid leave.

Each year, the U.S. Congress is required to pass, and the president to sign, 12 appropriations bills covering the federal government’s discretionary spending for the new fiscal year. For fiscal year 2026, which begins on Oct. 1, none of the 12 annual appropriations bills has cleared both houses, heightening the risk of a full government shutdown.

Without those measures or a temporary funding extension, the federal government would face a shutdown, during which non-essential operations are suspended while essential services and mandatory programs continue, according to U.S. law.

Although Republicans hold a 53-seat majority in the Senate, they still need at least seven votes from Senate Democrats to pass a funding measure under chamber rules to prevent prolonged debate and voting delay.

US democrats, Republicans fail to reach deal on averting gov't shutdown

US democrats, Republicans fail to reach deal on averting gov't shutdown

US democrats, Republicans fail to reach deal on averting gov't shutdown

US democrats, Republicans fail to reach deal on averting gov't shutdown

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.

China's aggregate social financing maintains high growth in 2025

China's aggregate social financing maintains high growth in 2025

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