Federal Government to Run Out of Money in this week amid Overfull Senate Schedule
The federal government will run out of money on Friday amid a jammed Senate schedule in December that may further delay the passage of the $1.9 trillion reconciliation package into next year.
Along with funding the government in December, the Democrat-controlled Senate must raise the debt ceiling before December 15 and pass the National Defense Authorization Act (NDAA), a typically bipartisan piece of legislation for 60 years.
The reconciliation package is also in the mix to be pushed through the chamber, though the clogged Senate calendar may delay the passage until January.
Funding the government, however, is the most immediate crisis for the Senate Democrats. Democrats’ strategy may be to introduce a stopgap funding bill potentially on Wednesday. The stopgap funding would need approval from Senate Republicans and Sen. Mitch McConnell (R-KY), “but that isn’t expected to be a major problem,” Punchbowl News reported.
Raising the debt ceiling is the next obstacle Democrats face in December. Treasury Secretary Janet Yellen has said the government can pay its bills until approximately December 15. How the Democrats may raise the debt ceiling is still unknown. Senate Democrats seem opposed to raising it through the reconciliation package and the NDAA.- READ MORE