Government Shutdown & Political Stalemate - The government shutdown is ongoing with no clear end in sight, as both sides are at a stalemate [1] - Senators are voting for the fifth time to fund the government, but the vote is expected to fail due to disagreements over tax credits related to the Affordable Care Act [2] - The White House warns of potential federal job layoffs due to the shutdown [2][3] - Republican House leaders have cancelled votes, placing the responsibility for resolving the shutdown on the Senate [5] Economic Impact - The shutdown could impact GDP and delay the release of key economic data, including trade deficits, jobless claims, and wholesale inventories [4] Personnel Changes & IRS Leadership - Treasury Secretary Bessant will remain commissioner of the IRS, and Frank Biscano has been appointed CEO of Social Security [6] - The Trump administration shows a pattern of top cabinet officials taking on more responsibilities [7] - The White House is potentially using these appointments as a quicker way to fill positions, possibly bypassing congressional scrutiny [8][9] - The IRS has seen significant leadership turnover, with the current leader being the eighth person in a leadership role since the start of the year [9] - The IRS's funding has been a point of political contention, with increases under Biden and decreases from Republicans [10]
Day 6 of government shutdown: Here's where things stand
CNBC Television·2025-10-06 16:02