|Update on Government Funding for Fiscal Year 2022 (9/22/2021)|
SUMMARY: With nine days until government funding expires, the House passed a Continuing Resolution to fund agencies through December 3 and suspend the debt limit, but Senate passage is unlikely.
With government funding set to expire with the beginning of the new fiscal year on October 1, House leaders have introduced a Continuing Resolution (CR), H.R. 5304, that would extend funding until December 3, ensure funding for CBP to replace user fee shortfalls due to the pandemic, allow additional funding to agencies to prevent furloughs if necessary, and suspend the debt limit through December 16, 2022. With only nine days left to prevent a shutdown, the House passed the CR today, however, it is unlikely that the bill as drafted will pass the Senate due to the inclusion of the debt limit increase. As you know, 46 Republican Senators signed a letter last month stating that they would not vote to increase the debt limit.
Treasury Secretary Janet Yellen has informed Congress that the federal government will run out of borrowing authority sometime in October and Wrightson ICAP, a private investment advisory firm, said this week the drop-dead deadline was likely October 25 or 26. Without an agreement to either raise or suspend the debt ceiling, the Treasury will be unable to continue paying the nation’s bills and the federal government will have to at least temporarily default on many of its obligations.
Should the CR be enacted, Congress will have two months to reach an agreement on government spending. To date, the House has passed 9 of the 12 appropriations bills. The Senate has not passed any. As Congress continues negotiations, NTEU will continue to urge Congress and the White House to act quickly to keep the government open and ensure the full faith and credit of the United States. I will keep you updated on these developments. For more information click here.