Government Shutdown Off: Democrats Support Budget Extension

The US Senate was able to pass a short-term spending bill to end the federal government’s shutdown that started on Friday evening due to an ongoing disagreement between Democrats and Republicans over migration policies.

The budget extension would provide funds for the Trump administration through 8 February, while contemplating a six-year extension of Chip, health insurance program that covers nearly 9 million children across the United States.

"We will vote today to reopen the government," Senate Minority Leader Chuck Schumer said.

The chamber passed the bill with 81 votes in favor, 18 against. However, the bill still needs to face a final passage in the House and signature of President Donald Trump.

Schumer explained this decision comes as Democrats were promised that the Senate will take under consideration some immigration issues, such as the Deferred Action for Childhood Arrivals program, commonly known as simply DACA.

Senate Majority Leader Mitch McConnell said debate on immigration could move forward before February 8. Democrats are looking for a bipartisan bill that will avoid massive deportations of thousands of immigrants brought to the country illegally as children.

“This immigration debate will have a level playing field at the outset and an amendment process that’s fair to all sides,” McConnell recognized in a speech on Monday.

News are expected to provide support for stock markets and the US dollar alike. However, the American currency will remain possibly under pressure due to the upcoming monetary policy meetings in other countries later this week.