Bill Financial News

Subscribe to enjoy similar stories. WASHINGTON—There was much to celebrate when House Speaker Mike Johnson walked into Mar-a-Lago to meet with President-elect Donald Trump just after the November election. But there was also pressing business, including a deadline to reach a government-spending deal.

Approaching a midnight deadline, the Senate is preparing to give final approval to a new plan to prevent a government shutdown

With hours to go before a midnight government shutdown, the House has approved a new plan from House Speaker Mike Johnson that would temporarily fund federal operations and disaster aid, but dropped President-elect Donald Trump’s demands for a debt lim...

midnight government shutdown, defying President-elect Donald Trump's demand to also greenlight trillions of dollars in new debt. Next, the Democratic-controlled Senate would need to pass the bill to ensure the government will be funded beyond midnight (0500 GMT Saturday), when current funding expires. The White House said President Joe Biden intends to sign it into law if they do. The legislation would extend government funding until March 14, provide $100 billion for disaster-hit states and $10 billion for farmers. It would not raise the debt ceiling — a difficult task Trump has pushed Congress to do before he takes office on Jan. 20.

TReDS (Trade Receivables Electronic Discounting System) has seen significant growth in 2024, with the bills financed crossing ₹2 lakh crore, pointing to the benefits for small businesses for whom the working capital cycle is shortened by the platform. Reserve Bank of India (RBI) data showed that at the end of October, the platform financed nearly 100,000 bills, with a combined value of ₹2.08 lakh crore. According to the data, more than 100,000 MSME sellers are registered on the four licensed TReDS platforms of Invoicemart, run by Axis Bank, M1xchange, Sidbi-promoted Receivables Exchange of India (RXIL), and C2FO Factoring Solutions, a global working capital provider.

Elon Musk running the US government? Tesla CEO's growing influence on the Republican Party and the Trump administration has become a topic of discussion among Democrats, some of whom now sarcastically refer to the SpaceX CEO as “President Musk.” As the threat of US government shutdown looms, Musk, one of the closest allies and a big supporter of President-elect Donald Trump, interjected himself into the process. The moniker 'President Musk' started trending on X, formerly known as Twitter, after the spending fight on Capitol Hill took an unexpected turn as the billionaire entrepreneur played a pivotal role in derailing a bipartisan funding bill, raising questions about his growing influence in Washington. Musk’s barrage of posts on X calling for lawmakers to «kill the bill» has led many to wonder whether he, not Donald Trump, is setting the Republican agenda. ALSO READ: What US government shutdown actually means: Explained in 10 points

Elon Musk’s role in taking down a bipartisan budget deal shows his ascendance as a political force

Nearly 3 million people could receive a boost in Social Security payments under legislation that's set for a final vote in the Senate

American farmers, small business owners and wildfire survivors are among those who will suffer if Congress cannot agree on a new spending bill after President-elect Donald Trump abruptly rejected a bipartisan plan that included more than $100 billion i...

A government shutdown at risk, House Speaker Mike Johnson is fighting to figure out how to meet President-elect Donald Trump’s sudden demands — and keep his own job

Lok Sabha was adjourned sine die, the House on Friday adopted a resolution recommending the two bills on holding simultaneous polls to a joint committee of the two Houses.

Supreme Court on December 20 set aside the National Consumer Disputes Redressal Commission (NCDRC)’s earlier judgment that capped the interest charged by banks on late credit card bill paymets at 30 per cent. The national consumer court had in 2010 restrained banks from charging interest rates in excess of 30% per annum from the credit card holders for their failure to make full payments on due date. The NCDRC judgment had held that if banks charge rate of interest over 30% towards credit card dues, that would amount to unfair trade practice.

unregulated lending and slap a fine of ₹1 crore on offenders along with imprisonment of 10 years. The move follows action against several digital loan apps for unregulated lending over the past two years and complaints about their unfair lending and predatory recovery practices. A draft bill — Banning of Unregulated Lending Activities (Draft) Bill — was put out by the finance ministry for comments, which can be submitted till February 2025.

According to Fortune, since his relocation from Washington to Indian Creek which is located in Florida, Jeff Bezos has sold approximately $13.6 billion worth of Amazon stock. The lack of a state income tax and capital gains tax in the state of Florida actually makes it a favorable environment for billionaires like Jeff Bezos specifically compared to Washington which has enacted a 7% capital gains tax on profits exceeding $250,000. The decision of Jeff Bezos to move to Florida was actually motivated by personal and professional reasons while including proximity to his parents and his aerospace company named Blue Origin, asserted Fortune. If Jeff Bezos had remained in the state of Washington during his stock sales then he would have faced a substantial capital gains tax bill of nearly $954 million.

fiscal discipline by reducing the fiscal deficit, achieving fiscal stability, and so much more.

Donald Trump has delivered a probable death blow to bipartisan congressional budget negotiations by rejecting the measure as a “betrayal of our country” just days before a spending deadline

Brazil’s real has fallen to its weakest level against the dollar since the currency was introduced in 1994, undercut by investors’ frustration with President Luiz Inácio Lula da Silva's efforts to rein in government spending

Republicans will still be in charge when the Wisconsin Legislature returns to work in January but will have the narrowest majorities in years

MacKenzie Scott continues to make medical debt relief a priority in her mysterious giving

Donald Trump abruptly rejected a bipartisan plan Wednesday to prevent a Christmastime government shutdown, instead telling House Speaker Mike Johnson and Republicans to essentially renegotiate — days before a deadline when federal funding runs out.Trump’s sudden entrance into the debate and new demands sent Congress spiraling as lawmakers are trying to wrap up work and head home for the holidays. It leaves Johnson scrambling to engineer a new plan before Friday’s deadline to keep government open.“Republicans must GET SMART and TOUGH,” Trump and Vice President-elect JD Vance said in a statement.The president-elect made an almost unrealistic proposal that combined the same continuation of government funds along with a much more controversial provision to raise the nation’s debt limit — something his own party routinely rejects.

Trump ally Elon Musk said on Wednesday that U.S. lawmakers who vote for a stopgap measure to fund the government past Saturday should be voted out of office, a move that could complicate the U.S. Congress' efforts to avert a partial government shutdown. «Any member of the House or Senate who votes for this outrageous spending bill deserves to be voted out in 2 years!» the Tesla chief executive and world's richest person wrote on his X social media platform. The federal government will run out of money to fund operations on Saturday unless Congress acts. Negotiators on Tuesday agreed on a deal to extend funding through March 14.