The Dow Jones (DJIA) opened Monday’s trading session lower and has continued to descend as the government shutdown enters its sixth day. The Senate is set to reconvene later today, with a vote on a Democratic stopgap funding bill set for 5:30 p.m. Eastern Time. However, the two parties remain deadlocked over Affordable Care Act (ACA) subsidies, which remain a major point of contention.
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“If Republicans continue to refuse to extend the Affordable Care Act tax credit, tens of millions of American taxpayers are going to experience dramatically increased premiums, copays, and deductibles,” said House Minority Leader Hakeem Jeffries in an interview with NBC’s Meet the Press.
Senate Faces Showdown as Odds Favor Longer Shutdown
If the Democrat-backed bill fails to pass, the Senate will likely then vote on a Republican-backed bill that would fund the government for seven weeks.
Bettors on prediction platform Polymarket believe that the government shutdown will drag on even further, with 66% odds of a 10-29 day shutdown. The odds of the shutdown extending past 30 days sit at 29%, while the odds of a four- to nine-day shutdown are at a low 5%.
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