Democrats prepare patch to prevent closures through December
Hoyer warned lawmakers on Friday that House leaders may have to add additional voting days in October to accommodate a busy schedule, including passing President Joe Biden’s massive social spending plan.
“While the House has already completed the vast majority of our appropriation work, Congress must pass an ongoing resolution to keep government open and serve our communities as we negotiate the final funding bills that invest in working families, ”said Rosa DeLauro, House Appropriations President (D-Conn.) said in a statement.
Republicans don’t seem fazed by Democrats’ attempts to tie debt ceiling action to a must-see government funding bill. GOP leaders have promised no help raising or suspending the cap on the amount of money the government can borrow while Democrats pursue a multibillion-dollar spending program without GOP support.
A limit on the country’s ability to borrow money was reinstated on August 1. Since then, the Treasury Department has taken “extraordinary measures” to conserve funds and continue to pay government bills on time.
Treasury Secretary Janet Yellen warned earlier this week that those measures would be exhausted next month. The Bipartisan Policy Center predicted on Friday that the government could default on its debt between mid-October and mid-November.
Such a breach would lead to economic turmoil, and Yellen warned that even last-minute action could “seriously undermine business and consumer confidence, increase short-term borrowing costs for taxpayers, and have an impact. negative on the credit rating of the United States. “
Heather Caygle and Burgess Everett contributed to this report.