CFO Slice

The U.S. Senate has voted 60–40 to advance a House-passed spending bill, marking a major step toward ending the nation’s longest government shutdown. Eight moderate Democrats joined Republicans to move the measure forward, which includes provisions to restore jobs lost during the shutdown, prevent new firings until January 31, and guarantee back pay for federal workers. The shutdown, now over a month long, stemmed from a dispute over funding for Affordable Care Act (ACA) subsidies worth about $30bn annually. While Democrats pushed to extend enhanced ACA tax credits to prevent insurance premium hikes for 20 million Americans, Republicans, led by Sen. Bill Cassidy, proposed directing funds to individuals through flexible-spending or health savings accounts instead of insurance companies - an idea later supported by President Trump. The procedural progress boosted stock futures, reflecting optimism that the standoff might end, though Democrats such as Sen. Ruben Gallego (D-AZ) criticized the deal for lacking firm guarantees on healthcare subsidies. The Senate must still amend and return the bill to the House, which has been out of session since September, leaving final approval and key policy details unresolved.