Greg Valliere of Horizon Investments.

The Senate passed by a 81-18 vote on Monday afternoon a continuing resolution to fund the government until Feb. 8, halting the third day of a government shutdown.

“In a few hours, the government will reopen,” said Senate Minority Leader Chuck Schumer, D-N.Y., minutes before the Senate vote on the CR. “We have a lot to do,” Schumer added, noting that a budget remained outstanding as well as an agreement on the Deferred Action for Childhood Arrivals, or DACA, and on opioid funding. 

Schumer said if an agreement on DACA was not reached by Feb. 8, the Senate would move to consider legislation dealing with DACA, a program that protects from deportation immigrants who were brought to the country illegally as children.

The CR passed by the Senate also places another deadline on the Children’s Health Insurance Program, or CHIP, and does not offer permanent funding. 

Speaker Paul Ryan, R-Wis., blamed Senate Democrats Monday morning for the shutdown that caused as many as 800,000 federal employees to be furloughed. 

Greg Valliere, chief global strategist for Horizon Investments, noted in his Monday morning Capitol Notes commentary that another crisis looms as Feb. 8 approaches “because the divisions over immigration are enormous.”

A deal to reopen the government “won’t mean much,” as it seems unlikely that a DACA deal can be reached by Feb. 8 “or the March 5 DACA deadline” established by President Donald Trump.

Federal agencies noted on their websites how they were proceeding during the brief shutdown. The Securities and Exchange Commission said that it would remain open for a “limited number of days” and be fully staffed and focused on the agency’s mission.

The SEC would not comment beyond the statement on its website.

The Labor Department said Monday that further updates to its website would not be made until the government reopened.

The Commodity Futures Trading Commission stated on its website Monday that the Technology Advisory Committee meeting scheduled for Tuesday is canceled and will be rescheduled. 

— Check out Valliere & Friedman: Government Shutdown Has Upside, Downside for Investors on ThinkAdvisor.