FedEx and General Mills post disappointing quarters as higher commodity costs weigh.
Stopgap funding for the federal government expires at midnight Saturday, but an effort to slow down a $1.1 trillion omnibus spending bill could lead to a temporary suspension of government operations.
Sen. Jim DeMint, a South Carolina Republican, is planning to force a reading of the 1,900-page spending bill in protest of the bill’s price tag and inclusion of earmarks, or special projects.
Reading the entire bill aloud could take about 50 hours, and a final vote on the bill could come Tuesday, after the current stopgap funding has expired. That would leave the government shut down Sunday and Monday.
The Senate could instead punt a vote on an omnibus spending measure to next year.
Thursday morning, Senate Republican Leader Mitch McConnell of Kentucky introduced a one-page resolution that would fund the government until Feb. 18, at current spending levels.
That would enable the incoming Republican-majority House and a Senate with a bigger Republican minority to consider a major spending bill.
“Once the new Congress is sworn in, we’ll have a chance to pass a less-expensive bill free of wasteful spending,” McConnell said on the Senate floor on Thursday. “Until then, we should take a step back and respect the clear will of the voters.”
On Wednesday, House and Senate Democrats said they had no plans to pass another temporary funding bill.