ACA Logo

House Approves Continuing Resolution with Debt Ceiling Measure

On Tuesday, September 21, the U.S. House of Representatives approved a fiscal year 2022 continuing resolution that contained a measure that raised the debt limit for the United States. The spending bill will keep the government open through December 3rd and prevent a debt default crisis if approved in the Senate. However, Senate republicans have made it known that they will not support efforts of democrats to increase the debt ceiling so long as they continue to pursue the $3.5 trillion budget reconciliation bill. This sets the stage for a budget standoff as the clock winds down to the end of September when the 2021 fiscal year comes to an end and as the need to increase the debt ceiling becomes more urgent. Unless one side relents, it appears possible that another government shutdown and debt crisis could come to fruition.

More below:

https://www.reuters.com/world/us/us-house-vote-tuesday-fund-govt-through-dec-3-raise-debt-limit-2021-09-21/

https://www.agri-pulse.com/articles/16502-daybreak-sept-21-democrats-forcing-vote-on-debt-limit-risking-shutdown