The New York Times reports the US Senate Votes Overwhelmingly to End Government Shutdown.
The Senate voted 81-18 on Monday to end the three-day old government shutdown, with Democrats joining Republicans to clear the way for the passage of a short-term spending package that would fund the government through February 8 in exchange for a promise from Republican leaders to address the fate of young, undocumented immigrants known as Dreamers.
“In a few hours, the government will reopen,” said Senator Chuck Schumer of New York, the Democratic leader. “We have a lot to do.”
Mr. Schumer, speaking on the Senate floor, announced that he and Senator Mitch McConnell of Kentucky, the Republican leader, had “come to an arrangement” to adopt the three-week spending measure while continuing to negotiate a “global agreement” that would include the fate of the dreamers, undocumented immigrants brought to the country as children.
Monday’s vote came after a frantic weekend of work by a bipartisan group of more than 20 senators, who on Sunday night were discussing a plan in which the government would stay open through early February, coupled with a promise from Mr. McConnell to allow a vote on a measure to protect the Dreamers from deportation.
The crux issue, it seemed, was whether the majority leader could be trusted to keep his word. Democrats have not forgiven Mr. McConnell for blocking the Supreme Court nomination of Merrick Garland for almost a year pending the election of a Republican to the White House. And Mr. McConnell’s promises to Republican Senators Flake and Susan Collins of Maine for votes on health care and immigration in exchange for their support of the tax cut have yet to materialize.
How much of the issue is that mistrust?
“Uh, most of it,” said Senator Joseph Manchin III, Democrat of West Virginia.
That Didn't Take Long
As noted yesterday in How Long Will the Government Shutdown Last? I voted with the 57% majority who said this would be over in a week.
Stock Market Surge
The stock market surged to a new high today as if this vote was merited a Popcorn Rating above zero. It didn't.
The S&P 500 is up about 16 points today as of 12:45 PM Central.
How Many More Rallies?
With one formality out of the way, we can turn our focus on February 8.
There is plenty of time for more mud-slinging, more fake shutdown threats, and yes indeed, more stock market rallies based on fake threat resolutions.
If you voted "none" you were wrong. Other numbers are still in play.
Mike "Mish" Shedlock