On the evening of November 10 local time, the U.S. Senate passed a temporary funding bill with a vote of 60 in favor and 40 against, marking a critical step toward ending the longest government shutdown in U.S. history.
The bill has now been sent to the Republican-controlled House of Representatives for consideration. House Speaker Mike Johnson has expressed hope that the House will pass the bill as early as November 12 and send it to President Trump for signature into law.
01 Shutdown Crisis Temporarily Eased
Partial shutdown of the U.S. federal government began on October 1 and, as of November 10, had lasted a record 41 days. This disruption forced hundreds of thousands of federal employees to work without pay.
It also led to interruptions in food assistance for millions of low-income Americans, and the aviation system descended into chaos due to a shortage of air traffic controllers.
On the 38th day of the shutdown, over a thousand flights in the U.S. were canceled. By November 9, more than 2,000 flights had been canceled and over 8,000 delayed, severely impacting travel and economic activity.
02 Senate Breaks the Deadlock
The temporary funding bill passed by the Senate has been dubbed a "compromise version." In addition to support from nearly all Republican senators, eight Democratic senators crossed party lines to vote in favor, allowing the bill to reach the 60-vote threshold needed for passage.
As part of the agreement to end the shutdown, Senate Majority Leader John Thune, a Republican, promised Democrats that a vote would be held by the second week of December at the latest on extending the enhanced subsidies under the Affordable Care Act, which are set to expire at the end of the year.
This compromise has sparked dissatisfaction among many Democrats, who argue that the agreement only promises a vote and does not guarantee the continuation of the subsidies.
03 Key Provisions of the Bill
The temporary funding bill will provide funding for most federal agencies at current levels through January 30, 2026, and will fully fund the Department of Agriculture, Department of Veterans Affairs, military construction projects, and congressional operations for the entire fiscal year.
According to the bill, the Supplemental Nutrition Assistance Program (SNAP) will receive full-year funding. This welfare program for low-income groups had previously "run out of funds," raising widespread concern.
The bill will also restore funding for federal agencies that have been shut down since October 1 and blocks former President Trump’s plan to reduce the federal workforce, ensuring that no layoffs will occur before January 30 of next year.
04 Uncertain Outlook in the House
Although the Senate has passed the bill, its fate in the House remains uncertain. House Democratic Leader Hakeem Jeffries has made it clear that Democrats will "strongly oppose the bill."
Jeffries criticized the bill for failing to address the core issue of extending the soon-to-expire Affordable Care Act subsidies.
Speaker Johnson is working to build consensus within the Republican Party, but with only a slim majority in the House, Republicans can afford to lose no more than two votes. As a result, it is still unclear whether the bill will pass smoothly.
05 New Opportunities for the Crypto Market
With the U.S. government shutdown crisis nearing resolution, both traditional and crypto markets are set to enter a new investment environment.
During the shutdown, the cryptocurrency market demonstrated low correlation with traditional assets, attracting some safe-haven capital inflows.
As the government reopens, regulatory transparency is expected to improve, which could drive more institutional capital into the crypto sector.
Data from Gate Exchange shows that as of November 12, Bitcoin remained resilient during the shutdown. As the likelihood of the bill’s passage increased, market activity has visibly picked up.
06 Potential Risks Remain
It is important to note that this temporary funding bill covers only three annual appropriations, while Congress is customarily required to pass twelve such bills each year. This means that nine annual budgets remain unresolved.
During the period covered by the temporary bill, both parties will continue negotiations over the annual appropriations. This also means that in just over two months, the U.S. federal government could face another shutdown crisis.
A Reuters/Ipsos poll at the end of October showed that 50% of Americans blamed Republicans for the shutdown, while 43% blamed Democrats. This atmosphere of mutual recrimination could cast a shadow over future budget negotiations.
Outlook
Speaker Johnson is working to build consensus within the Republican Party, but with only a slim majority in the House—able to afford no more than two defections—and with Democrats having made clear their opposition, the bill’s passage remains uncertain.
If all goes smoothly, the U.S. government will end its 41-day shutdown this week, more than one million federal employees will return to work and receive back pay for the shutdown period, and the air traffic control system will gradually return to normal.
However, this funding bill offers only a temporary reprieve—the next funding deadline is January 30, 2026—and the deeper political divisions in the U.S. remain unresolved.
