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U.S. Government SHUTDOWN Looms

The House of Representatives rejected a measure to fund the government into the next fiscal year, setting the stage for a government to shut down on October 1 if lawmakers do not act.

The continuing resolution failed by a vote of 195-230, as most Democrats — and many conservative Republicans — opposed the six-week funding measure.

Democrats wanted the bill to include more funding for disaster relief without offsetting spending cuts, while the Republicans opposed to the bill cited the lack of sufficient cuts to counteract the $3.65 billion it added to the FEMA budget.

Lawmakers are set to take a week-long vacation beginning on Friday, complicating prospects for a last minute compromise.

The vote was a major blow to the Republican leadership, who expressed confidence that the measure would pass despite Democratic opposition.

Read more: http://www.businessi…9#ixzz1Yd4ONRRZ

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