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US Senate passes bill to end government shutdown, sends to House

The 40-day U.S. federal government shutdown is nearing its end as the Senate passed a stop-gap funding bill to keep operations running until January 30. The shutdown caused an estimated $15 billion loss in GDP and major disruptions, including 8,000 flight cancellations. While key policy disputes remain unresolved, investor sentiment has improved with hopes that the economic impact will soon subside.





The shutdown of the US federal government, which reached its 40 day mark, is finally coming to an end. The United States Senate voted 60-40 to approve the stop-gap funding bill on Monday. This bill will restore federal operations until January 30th, which will hopefully put an end to the economic disruptions and concerns the shutdown has caused. Economic losses that were triggered by the shutdown include an estimated U.S. GDP of $15 billion. Industries such as the aviation industry also faced severe losses, as over 8000 flights were cancelled due to staffing shortages. While the agreement sidesteps contentious policy-issues such as premium subsidies under the Affordable Care Act, investor sentiment ticked positive on hopes the worst of the disruption may be over. The risk of the House of Representatives delaying approval exists, but investors remain hopeful that the economic losses caused by the shutdown will end soon.




 
 
 

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