NPR News: 12-20-2024 7PM EST
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Live from NPR News in Washington, I'm Jack Spear. Hours from a midnight government shutdown, the third time was a charm. House lawmakers approving a plan put forth by House Speaker Mike Johnson that would temporarily fund government operations, but drop President-elect Donald Trump's demands to address the nation's ability to borrow heading into the new year.
Johnson expressed satisfaction with the measure. We are really grateful that tonight, in bipartisan fashion with overwhelming majority of votes, we passed the American Relief Act of 2025. This is a very important piece of legislation. It funds the government, of course, until March of 2025. That was a big priority for us. This is America first legislation because it allows us to be set up to deliver for the American people.
The measure next goes to the Senate and then to President Joe Biden for his signature. Trump had been pushing hard on the death ceiling issue, but Johnson, realizing it would run into resistance, postponed that debate until the new administration takes office. The fact the federal government faced the prospect of a shutdown was in part due to Elon Musk, the billionaire owner of the social media site X, has used his considerable platform to speak out about Republican backed plans.
NPR's Stephen Fowler has more. Musk is not an elected official, but his proximity to President-elect Trump and high profile posting helped sink a bipartisan funding bill announced earlier this week. He called it, quote, criminal and attacked language that went beyond spending to keep the government open. Musk also threatened to support primary challengers to anyone that voted against his wishes. The social media frenzy caused by the world's richest man has added more conflict to an already narrow Republican House majority that has had issues governing. Stephen Fowler, NPR News.
The Biden administration has approved a new round of student loan forgiveness for some 55,000 borrowers working in public service. In Paris, Corey Turner reports.
This latest effort for borrowers in the public service loan forgiveness program will provide more than $4 billion in relief. In a statement, President Joe Biden said his administration has now approved relief for nearly 5 million student loan borrowers. The news comes as Biden's largest efforts to provide loan forgiveness have been shut down or remain tangled in the courts. Over the past four years, the White House has argued that broad loan forgiveness is justifiable, given the enormity of federal student loan debt. While Republicans have countered that forgiveness not only privileges those with some college, it's also a costly use of taxpayer dollars that only Congress, not the White House, has the power to decide. Corey Turner, NPR News.
The Federal Reserve's preferred inflation measure was released today and it shows prices barely budged last month. Prices were up one-tenth of one percent. That's a positive sign after months of increasing price pressures and shows the central bank may still be moving towards its goal of two percent inflation. Stocks rallied on Wall Street today after the better than expected numbers. The Dow up 498 points. The Nasdaq was up 199 points. This is NPR. In Germany, officials at automaker Volkswagen say a deal has been reached on wages, the agreement warding off the prospect of plant closings there and barring involuntary layoffs through 2030. The company did say, however, the agreement would include provisions to responsibly cut more than 35,000 jobs over that same period.
A Texas death row inmate was summoned to testify before a House panel for the first time since being convicted more than 20 years ago, but an order from the Texas Attorney General barred the inmate from appearing. KUT's Lois Morano Lozano is the latest.
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