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Marketplace All-in-One

What does a new house speaker mean for government spending?

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 26 October 2023

⏱️ 8 minutes

🧾️ Download transcript

Summary

Republican Mike Johnson of Louisiana was elected as the speaker of the house yesterday. What does this new leadership mean for spending bills to avert a looming government shutdown, aid packages to Ukraine and Israel, and the farm bill? We explore. Plus, food insecurity climbed last year. Then, more states are requiring financial literacy classes. We look at the impact.

Transcript

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0:00.0

Where does government money start flowing now that Republicans have elected a new leader

0:05.8

for the House?

0:06.8

I'm David Brunkaccio and now that the House of Representatives has a new leader, the

0:10.8

Chamber, responsible for appropriating most funding for the government, in turn it's

0:15.4

attention to all of the spending bills piling up.

0:18.1

This could in turn avert another government shutdown in a few weeks.

0:21.8

New Speaker Mike Johnson has an ambitious agenda as Marketplace's Nancy Marshall Genser

0:26.5

reports.

0:27.5

House Speaker Mike Johnson sent a letter to his colleagues laying out his plans, first

0:32.0

just keeping the federal government open.

0:34.5

Congress didn't pass all the spending bills needed to fund the government for the new

0:38.2

fiscal year, which began October 1st.

0:41.3

So right now it's running on a stopgap funding bill that expires November 17th.

0:46.1

And his letter Johnson said if another temporary measure is needed, it should run through

0:50.4

January 15th or April 15th.

0:53.6

It would give Congress time to approve the 12 spending bills for permanent funding for

0:58.0

the year.

0:59.0

President Biden issued a statement congratulating Johnson, but also asking for a vote on his

1:04.2

request for about $106 billion for among other things, aid to Israel and Ukraine, plus

1:10.2

border security.

1:11.7

Speaker Johnson didn't mention the aid package in his letter, but he told reporters it's

1:15.7

quote, a top priority.

...

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