With rumblings growing about a possible Washington shutdown on April 28 when the current continuing resolution expires, Deutsche Bank’s Washington expert Frank Kelly yesterday hosted a client call on the political implications of last week’s events.
He suggested that the surprise withdrawal of the Republican healthcare bill on Friday is a sign of the continued division within the Republican Party and is perhaps a precursor to growing political and policy risks in the US, and as discussed yesterday, he notes that even before considering the difficulties involved in passing President Trump’s tax reforms, there exists a very real possibility of a government shutdown on April 28 when the current continuing resolutions set to expire.
According to Kelly, there is a significant chance that the Freedom Caucus will reject a new continuing resolution due to their opposition to the continued funding of Planned Parenthood and Obamacare, while Trump’s spending plans for a border wall will see opposition from both Democrats and Republicans in the Senate.
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