- The Senate approved the bill with a 60-40 bipartisan vote.
- The bill allows for SNAP benefits, delays in ACA subsidy renewal, and sets short-term appropriations.
- Lawmakers also advanced a draft bill regulating digital commodities under CFTC oversight.
A bill was passed on Monday night by the Senate to reopen the US government and bring the record shutdown to an end. The bipartisan action is supposed to revive core functions, stabilize federal paychecks, and revive healthcare and regulation of digital asset talks.
Bipartisan Deal Ends Shutdown After Weeks of Deadlock
The long-awaited negotiation that had toiled government activities to a standstill on several occasions ended with a 60-40 vote after many efforts to amend it had failed. All Republican voters except Rand Paul who was a Senator of Kentucky voted in favor of the measure, and eight other Democrats voted in favor of the Democrats to pass the measure.
The bill was then forwarded to the house where the house will vote not later than Wednesday, and the bipartisan agreement has the backing of President Donald Trump who has already indicated that he will sign it once presented to his desk.
Following the ongoing debate concerning health care and budgets, the senators engaged in the talks pointed that the government should be reopened first.
Legislative Details and Political Reactions
According to @cryptothedoggy, the bill includes a “minibus” package funding three major appropriations. It fully funds SNAP benefits for the next fiscal year and temporarily supports other programs until January 30. The plan reflects a compromise to keep essential government functions running during budget talks.
The bipartisan agreement was secured by senators Angus King, Jeanne Shaheen and Maggie Hassan. Shaheen described it as the sole offer on the plate, that opening the government enables more discussions on ACA tax credits. Other senators who lobbied in support of the bill included Durbin, Fetterman and Kaine to guarantee their federal workers receive paychecks.
Senate majority leader, John Thune promised to introduce an ACA funding bill to the senate by mid-December. Nevertheless, Democrats are also cautious because even an extension will require 60 votes.
Digital Assets and Market Reaction
There were minor corrections of global crypto markets in these developments, and the overall market cap was 3.61 trillion, which decreased 2.1 percent within 24 hours. Bitcoin is at $104,373 and Ethereum is at $3529.72. The trade has not slowed down with a volume of about 24 hours of over 200 billion.
The falling of altcoins XRP, BNB, and Solana fell more than the stablecoins USDT and USDC remained the same. Analysts saw cautious trading, as investors keep an eye on Washington and its fiscal activity as well as potential change in crypto regulation.
