Border Security Set to Derail GOP and Democrat Agreement to avoid Shutdown

The scramble to avoid another government shutdown has stalled out as an end of Friday deadline looms for Congress to strike an agreement on border security.

Efforts to prevent the second partial funding lapse of the year have hit a roadblock, a Democratic aide told CNBC on Sunday. The Republican side also showed concerns. “The talks are stalled right now,” Sen. Richard Shelby, R-Ala., the top GOP negotiator on a conference committee trying to hash out an immigration spending deal, told “Fox News Sunday.”

An argument over how best to allocate border security money now threatens to reopen fresh wounds for the 800,000 federal workers who missed two paychecks during a record 35-day shutdown in December and January. Even as both major parties show no appetite for another closure, the ongoing dispute over immigration policy could stifle efforts to keep the government running.

Top appropriators plan to meet Monday afternoon as they try to salvage a last-minute deal, three sources told CNBC. Shelby, chairman of the Senate Appropriations Committee, House Appropriations Committee Chairman Nita Lowey, D-N.Y., Sen. Patrick Leahy, D-Vt., and Rep. Kay Granger, R-Texas, will meet.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza