CNBC's Emily Wilkins joins 'Money Movers' with breaking details on President Trump canceling his meeting with Democratic leaders Chuck Schumer and Hakeem Jeffries on the looming government shutdown.

Washington

Former President Donald Trump has canceled a scheduled meeting with Democratic leaders Hakeem Jeffries and Chuck Schumer regarding ongoing government funding negotiations. Trump announced the cancellation on social media, citing what he described as unreasonable demands from Democrats, particularly concerning health care provisions such as Affordable Care Act premium tax credits and Medicaid cuts.

Democratic leaders have criticized Trump for withdrawing from the talks, accusing him of avoiding negotiations as the risk of a government shutdown increases. With Congress currently out of session and the Senate expected to return soon, the likelihood of a shutdown remains high, especially as House Republicans are not scheduled to return until later. The outcome will largely depend on whether Democrats secure concessions on health care issues.

Trump cancels meeting with Democratic leaders on government shutdown

Let's now get over to Emily Wilkins because she has some breaking news on the government funding talks Emily Hey Courtney Well at this point a government shutdown is still looming a next Tuesday if they can't resolve things by then and a meeting that was Supposed to happen between Hakeem Jeffries Chuck Schumer the two top Democrats and Trump has now been canceled by Trump He posted on truth social this morning saying that after reviewing the details of the what he called Unserious and ridiculous demands being made by the minority radical left Democrats and returns from their votes to keep our thriving country open I have decided that no meeting with their congressional leaders could possibly be Productive and he went on for a while after that kind of criticizing some of the things they're asking for which remember a lot of This is going to be about health care. That's what Democrats are staking this on They're looking for an extension of those affordable Care Act premium tax credits or else insurance costs are going to rise for millions of Americans and they are also trying to see if they can make some changes to those Medicaid cuts that were installed in that Trump Megabill proposal that just passed a few months ago Of course Hakeem Jeffries and Chuck Schumer are now out rebuking the president for canceling the meeting Jeffries began his Response was saying Trump always chickens out and then added if the extremists want to shut down the government because there will unwilling to address The Republican health care crisis that is devastating America and Schumer followed up saying that Trump is running away from the negotiating table Now Congress is out this week Lawmakers are not in DC The Senate is expected to return on Monday when they plan to take yet another vote to try to keep the government Open for at least a couple more weeks But the house is not expected back house Republicans are not planning to return until later in October and while house Democrats will be there that does not give them enough vote So at this point it does seem like tensions are increasing and the likelihood of a shutdown is ratcheting it up guys So Emily just to be clear the is the risk is the shutdown risk more acute in the Senate? Which as you said is going to be the only one that has a chance to address that within the week Carl it all is really going to depend on Democrats at this point Chuck Schumer She seems to be holding firm saying that unless Democrats get some sort of win on health care They will not provide Republicans the votes they need to keep the government open However, you have heard a number of Democrats including John Fetterman who say that they will be voting to keep the government open a number Of others seem to be on the fence So I think it's going to be very telling to see what happens next week when everyone gets back into town Monday And you're really less than 48 hours ahead of that deadline Emily thanks so many cross currents today Emily Wilkins

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New York

Trump delivers address at U.N. General Assembly

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Hong Kong Island

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Moscow

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San Francisco

Rise of AI

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Trump, FDA tell pregnant women not to take Tylenol

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Los Angeles

Jimmy Kimmel returning to air

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Rome

Middle East Conflict

Thousands strike across Italy in solidarity with Palestinians in Gaza

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Ukraine Invasion

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Glendale

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Lisbon

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Nashua

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Phoenix

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Tel Aviv-Yafo

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London

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Manhattan

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Kyiv

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Heathrow Airport

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Breakdown