Fresh off the debt-ceiling showdown, Washington may be looking at another fiscal crisis: a government shutdown. Interrupted services, shuttered national parks and furloughed federal workers can be expected – if spending bills are not passed by this date.
At issue is a decision by House Republicans to write spending bills below the levels set in the recent deal that resolved the debt-ceiling crisis. Such bills, which fund various government operations, must be approved before the start of fiscal 2024 on Oct. 1. Without passage, Americans can expect another round of interrupted services, shuttered national parks and furloughed federal workers.
Greg Valliere, chief U.S. policy strategist at AGF Investments, wrote that a stalemate between the House and Senate “could easily lead to a government shutdown as the new fiscal year begins on Oct. 1, and key spending provisions — defense ITA, +0.12% and health care IYH, +0.05% in particular — could stall in early October.”
Hardline House conservatives’ aims could set a collision course with the Democratic-controlled Senate, as well as further turn up pressure on McCarthy from his right. Beacon said preventing a shutdown on Oct. 1 would require lawmakers to agree on a stopgap budget known as a continuing resolution to keep the government open. But even such a solution could be fraught, they noted.
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