• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

3

Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

3

Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
PoliticsThe Biden administration

House Speaker McCarthy wants Biden to accept a 8% spending cut and a border wall to avert a government shutdown

By
Erik Wasson
Erik Wasson
,
Billy House
Billy House
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Erik Wasson
Erik Wasson
,
Billy House
Billy House
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
September 18, 2023, 6:21 AM ET
McCarthy presented the plan to Republican lawmakers in a conference call Sunday evening after negotiators representing key factions within the House GOP settled on the demands to temporarily fund the government for 31 days.
McCarthy presented the plan to Republican lawmakers in a conference call Sunday evening after negotiators representing key factions within the House GOP settled on the demands to temporarily fund the government for 31 days.Alex Wong—Getty Images
Add Fortune on Google for similar content.

House Speaker Kevin McCarthy proposed a deal to temporarily avert a US government shutdown, with demands including an 8% spending cut for domestic agencies and a resumption of border wall construction.

Recommended Video

McCarthy presented the plan to Republican lawmakers in a conference call Sunday evening after negotiators representing key factions within the House GOP settled on the demands to temporarily fund the government for 31 days. A House vote on the measure is planned for Thursday.

The demands, which also include provisions curtailing the ability of migrants to claim asylum in the US, are anathema to most Democrats and aren’t likely to be accepted by the Democratic-led Senate. That means the bill doesn’t reduce the risk of a shutdown.

The bill also doesn’t contain emergency Ukraine war funds or disaster aid including relief for victims of Maui wildfires and a Florida hurricane requested by President Joe Biden’s administration.

McCarthy immediately faced opposition from some GOP ultra-conservatives that could doom the plan. Six hard-right lawmakers quickly announced their opposition. McCarthy can only afford to lose four Republicans, without Democratic support.

But if McCarthy and the plan’s authors can unite Republicans behind the strategy, it would clear the way for the House to vote on a proposal for temporary funding. Efforts to pass funding measures have ground to a halt in the House amid clashes between GOP hardliners and moderates.

McCarthy became so frustrated with hardliners’ opposition to any spending measures that he dared them at a meeting on Thursday to try to oust him from his leadership position.

The new proposal followed days of talks between leaders of two key Republican factions. Representatives Byron Donalds, a negotiator for the ultra-conservative Freedom Caucus, and Dusty Johnson, leader of the more moderate Main Street Partnership, presented the plan in the conference call.

Still, the plan quickly ran into objections from the hard right that jeopardize its chances in the House.

Representative Rosa DeLauro, the top-ranking Democrat on the House Appropriations Committee, said the GOP proposal was “extreme” and “would cut funding to the National Institutes of Health including funding for cancer research, defund the police, and decrease resources to important allies like Ukraine and Israel.” 

Earlier Sunday, McCarthy said he hoped to avert a shutdown because it would undermine Republicans’ leverage in negotiations over federal spending.

“I want to make sure we don’t shut down,” McCarthy said on Fox News’ Sunday Morning Futures. “I don’t think that is a win for the American public and I definitely believe it’ll make our hand weaker if we shut down.”

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Authors
By Erik Wasson
See full bioRight Arrow Button Icon
By Billy House
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Politics

All hail London—whatever the U.K.’s new Prime Minister says 
EuropeLetter from London
All hail London—whatever the U.K.’s new Prime Minister says 
By Kamal AhmedJuly 23, 2026
2 hours ago
President Donald Trump makes a statement on the census with Secretary of Commerce Wilbur Ross (L) in the Rose Garden of the White House on July 11, 2019 in Washington, DC.
EconomyIran
Trump faces a Catch-22 on Iran because of midterms, says his former commerce secretary: Face inflation furor, or withdraw and look weak
By Eleanor PringleJuly 23, 2026
5 hours ago
Medicaid Services administrator Dr. Mehmet Oz speaks before Vice President JD Vance at the Wisconsin Air National Guard facility at Milwaukee Mitchell International Airport.
PoliticsDonald Trump
Trump admin deferring $1 billion-plus Medicaid payments to California and Minnesota amid ‘suspected fraud’
By The Associated Press and Ali SwensonJuly 22, 2026
19 hours ago
‘It’s called StreetEasy, not StreetHard’: Mamdani cracks down on scourge of ‘housefishing’ and ‘real estate slop’
Real EstateHousing
‘It’s called StreetEasy, not StreetHard’: Mamdani cracks down on scourge of ‘housefishing’ and ‘real estate slop’
By Tatiana SatauaJuly 22, 2026
19 hours ago
Canadian Prime Minister Mark Carney speaks to US President Donald Trump in front of a window.
EconomyDonald Trump
Carney and Trump agree to speed up trade negotiations a day after Trump puts a 50% tariff on Canadian goods
By The Associated Press and Jim MorrisJuly 22, 2026
21 hours ago
Trump Accounts draw 6.5 million sign-ups, but some families are still waiting on the promised $1,000 funding
InvestingDonald Trump
Trump Accounts draw 6.5 million sign-ups, but some families are still waiting on the promised $1,000 funding
By The Associated Press and Moriah BalingitJuly 22, 2026
22 hours ago

Most Popular

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
23 hours ago
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
3 days ago
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
Economy
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
By Sasha RogelbergJuly 22, 2026
20 hours ago
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
AI
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
By Eva RoytburgJuly 21, 2026
2 days ago
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
Success
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
By Emma BurleighJuly 21, 2026
2 days ago
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
Cybersecurity
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
By Jeremy Kahn and Emily ForliniJuly 21, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.