House aligns with Senate and votes to avoid government shutdown with short-term funding bill

Possible government shutdown was one of several political issues being followed closely by the markets

The House joined the Senate on Thursday to approve a bill to fund the government through Dec. 3 and avert a government shutdown for now.

The House voted 254-175. President Biden signed the bill Thursday evening.

It's one of several political issues being followed closely by the markets, which have fallen Thursday amid uncertainty about the passage of a bipartisan infrastructure bill and President Biden's $3.5 trillion spending package.

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Sixty-five senators voted in favor of the short-term funding bill, which did not include a provision to raise the debt ceiling. Thirty-five no votes were not enough to sink the bill, which needed 60 votes to pass. Treasury Secretary Janet Yellen has said that the U.S. could run out of money to pay its bills by Oct. 18 if the debt limit is not raised.

"This vote says we are keeping the government open," said Senate Majority Leader Chuck Schumer ahead of the vote, calling it a "glimmer of hope."

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Now the House has until midnight to send it to Biden's desk before the close of the federal government's fiscal year.