Congress passes 15-day funding bill

By Charles Riley, staff reporter


NEW YORK (CNNMoney.com) -- Congress decided to keep the government open for business.

On Thursday, the day before a temporary federal budget was set to expire, the Senate passed another Band-Aid measure that will fund federal operations for another 15 days.

The House approved the so-called continuing resolution by a vote of 239 to 178 on Wednesday.

The measure moved to President Obama, who was expected to sign it.

The extension to Dec. 18 is the latest in a series of continuing resolutions approved by lawmakers after Congress failed to pass a new budget at the start of the fiscal year.

Without a formal budget, Congress typically ends up passing continuing resolutions for a month or two at a time. That essentially prevents Washington from shutting down, while lawmakers work on finalizing the new budget.

The fallout of not passing a continuing resolution would be no small matter, and would likely lead to furloughs of federal employees and sharply reduced governmental activities, which could have an impact on the larger economy.

The measure was able to pass the Senate without too much trouble, garnering rare support from both sides of the aisle.

In a letter sent to Democratic Majority Leader Reid earlier this week, Senate Republicans said funding the government is one of their top priorities. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 18,162.99 121.45 0.67%
Nasdaq 5,106.59 73.84 1.47%
S&P 500 2,123.48 19.28 0.92%
Treasuries 2.14 -0.00 -0.09%
Data as of 4:44pm ET
Company Price Change % Change
Bank of America Corp... 16.74 0.24 1.45%
Michael Kors Holding... 45.93 -14.66 -24.20%
Broadcom Corp 57.13 10.21 21.76%
Apple Inc 132.04 2.42 1.87%
AbbVie Inc 67.38 1.28 1.94%
Data as of 4:04pm ET
Sponsors

Sections

Apple's new "CarPlay" system, which allows drivers to use iPhones behind the wheel, is raising concerns among auto safety experts. More

Workers with college and graduate school degrees saw their wages fall the most last year. The least educated saw a slight bump in pay. More

Apple's new "CarPlay" system, which allows drivers to use iPhones behind the wheel, is raising concerns among auto safety experts. More

Hong Kong's week-long Bun Festival means booming business for local bakery Kwok Kam Kee, which has produced the holiday's delicious highlight for decades. More