Following weeks of an escalating feud between House Speaker Kevin McCarthy and a growing number of increasingly combative Republicans, a chaotic government shutdown was narrowly avoided this weekend, though just by a matter of minutes.
Late Saturday night, McCarthy moved to pass a temporary bill — which will keep the government funded through November 17 — with support from Democrats, which was signed into law by President Joe Biden right before the midnight Saturday into Sunday deadline. This enabled many in Corporate America to breathe a sigh of relief as lead economists predicted that a shutdown would affect the national economy and slow spending leading into the holiday season.
