U.S. President Donald Trump signed a bill late Wednesday, formally ending the recent federal government shutdown. The bill received the President’s signature about two hours after being passed by Congress, allowing food aid programs for millions of Americans to restart, and federal employees’ salaries to be paid on schedule.
After two days of deliberation in the Senate (which Republicans currently control by a slim margin), the Republican-controlled House of Representatives, led by Trump’s party, passed the stopgap funding bill with a vote of 222 to 209, providing short-term financial support for federal agencies to operate.
With the White House leader completing the signing process, hundreds of thousands of federal employees who were previously forced to take unpaid leave are expected to return to work on Thursday, though the speed of the government’s full return to operation remains uncertain.
The bill will fund the federal government’s operations until January 30 of next year. According to current estimates, the U.S. public debt—which currently stands at $3.8 trillion—is expected to increase by approximately $1.8 trillion annually.
The end of the government shutdown is expected to swiftly bring crucial public services, such as air travel, which had been severely disrupted, back on track, which is particularly important for the upcoming Thanksgiving travel rush.
The resumption of food aid for millions of families is also expected to boost consumer spending during the year-end holiday season.
Furthermore, with federal agencies back in operation, the compilation and release of key economic data will gradually resume. Previously, due to the lack of data, investors, policymakers, and ordinary households struggled to accurately grasp labor market trends, inflation, and overall economic movements.
However, some “data gaps” may be irreparable. The White House indicated that the monthly jobs report and the Consumer Price Index, originally scheduled for release in October, may not be reissued.
According to estimates from several economic institutions, the U.S. Gross Domestic Product (GDP) lost about $0.1$ percentage point per week during the six-week-long government shutdown, but most of the loss is expected to be recovered in the coming months.