Congress kicks the can

Lawmakers now have until Friday to pass the highly-anticipated continuing resolution

article-image

Volodymyr TVERDOKHLIB/Shutterstock modified by Blockworks

share


This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.


In a real 11-hour move, Congressional leaders have unveiled a stopgap bill to fund the government for three more months. 

Should it pass, lawmakers will narrowly avoid a government shutdown. However, the new deadline to agree on a budget would come during President-elect Trump’s crucial first 100 days in office. 

Lawmakers now have until Friday to pass the highly-anticipated continuing resolution, all 1,500 pages of it. The House Rules Committee will have to approve a violation of the 72-hour rule, whereby bill text is released three days ahead of a vote. Over in the Senate, unanimous approval is needed to break procedure for passage before the deadline.

As we’ve written about before, Republicans and Democrats largely agree that a CR is the best way (and at this point, the only way) to avert a shutdown.

Some highlights from the bill:

  • $110.4 billion in total disaster aid, most of which would go to southern US states in the wake of hurricanes Milton and Helene. 
  • There’s a provision that would give DC control over Robert F. Kennedy Memorial Stadium, an agreement that would help the District bring the Commanders back to the city. 
  • A 3.8% “cost of living” increase on Congressional salaries, which currently stand at $174,000.

Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (2).png

Research

We’re bullish on the PUMP token. We believe Pump.fun's brand strength, existing integrations, product roadmap, and strategic levers justify PUMP's TGE valuation, and expect the token to re-rate meaningfully higher in the months ahead.

article-image

Big blockers wasted a bitcoin fortune trying to prove a point

article-image

Coinbase’s newest acquisition includes the CEO and Head of Research from Opyn

article-image

Crypto’s highest purpose might be to make markets better by making them bigger

article-image

The non-profit’s “Project Open” seeks to let stocks trade directly on Solana

article-image

The acquisition is Pump.fun’s first, and comes just days before its planned ICO

article-image

As Trump’s tariff war reignites, everyone is assuming the dollar will continue its path lower. But the journey might be bumpy