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Congress Passes Continuing Resolution through December 3rd

On Thursday, September 30th, Congress passed and President Biden signed into law a continuing resolution keeping government agencies funded at current FY2021 levels through December 3. The measure provides funding for all government agencies and their ongoing activities.

The continuing resolution did not include anything that relates to increasing the debt ceiling. According to Treasury Secretary Janet Yellen, Congress will need to address the debt limit very soon as they anticipate mid-October as being the time in which we exceed our borrowing limits and begin to default on repayments of debts. See more here: https://www.cnbc.com/2021/09/30/yellen-lends-support-for-effort-to-remove-the-debt-ceiling-altogether.html

More below:

https://appropriations.house.gov/news/press-releases/house-clears-extending-government-funding-and-delivering-emergency-assistance

Summary of Continuing Resolution

https://www.congress.gov/bill/117th-congress/house-bill/5305/text