US Senate Unanimously Passes Resolution to Withhold Senators’ Pay During Government Shutdowns

JH Kim

Summary

The US Senate unanimously passed a resolution to withhold senators’ pay during a government shutdown.
The measure is intended to ensure lawmakers also bear financial responsibility if a shutdown occurs because of delays in passing the federal budget.
Markets are watching how US budget negotiations and fiscal policy discussions could affect financial markets and the Treasury market.

Forecast Trend Report by Period

The US Senate unanimously passed a resolution to withhold senators’ pay during any future government shutdown, a step seen as underscoring congressional accountability.

Walter Bloomberg reported on May 14 that the Senate had unanimously approved the resolution to halt senators’ pay during a government shutdown.

The measure was advanced on the premise that lawmakers should share financial responsibility if a shutdown occurs because of delays in passing a federal budget.

Congress has repeatedly faced shutdown threats amid conflicts over budget negotiations.

Markets are watching how future US budget talks and fiscal policy discussions could affect financial markets and the Treasury market.