Late last night the Senate and House voted to fund federal agencies and send hundreds of thousands of federal employees back to work. According to The Washington Post, “The agreement struck by Senate Majority Leader Harry M. Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.) ended a stalemate created last month, when hard-line conservatives pushed GOP leaders to use the threat of shutdown to block a landmark expansion of federally funded health coverage.”
Today, Senate leaders have reached a bipartisan deal that would lift the debt ceiling and end the government shutdown that has been in effect for more than two weeks. If both the House and Senate pass the bill, President Obama will most likely sign the bill and the federal government will reopen. Here are 5 things to know about the Senate proposal.
While The Washington Post reports the House continues to pass “mini” spending bills to reopen some federal programs, President Barack Obama yesterday reiterated his position that he won’t negotiate.
Getting America back on the path to fiscal responsibility should be a top priority for lawmakers as Congress debates increasing the debt ceiling and a bill to keep the federal government running. In this briefing book, we’ll introduce readers to the current federal spending environment, review the history of the debt limit, and look at what will happen now that we’ve reached our statutory spending limit.
At midnight last night, the federal government shut down, the result of a standoff between lawmakers over how to provide funding for the new fiscal year, which started today.
Some lawmakers in Washington seem to be making getting our fiscal house in order has hard as “fiscally” possible. Instead of taking commonsense steps to protect the American people, they are trying to increase their political leverage by any means necessary.
Today, the third and final estimate for the second quarter of real GDP growth was released. According to the Commerce Department, the third estimate shows that the economy expanded at a rate of 2.5 percent during the second quarter of FY 2013.
It is impossible to tell how much a potential government shutdown would cost taxpayers. But, according to The Washington Post, two government shutdowns in the mid-1990s cost taxpayers $2.1 billion in today’s dollars.
Lawmakers have until 11:59 p.m. on Monday, Sept. 30 to pass a continuing resolution for fiscal year 2014 or the government will shut down. Well, the government would kind of shut down. Here are the five things you need to know about what would happen if lawmakers don’t agree on a CR.
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