THE government could face a shutdown this week if a new deal cannot be struck between Republicans and Democrats.
The federal government faces a shutdown if funding stops on at midnight on Thursday, the end of the fiscal year.
The House voted last week to keep the government funded, suspend the federal debt limit and provide disaster and refugee aid, setting up a high-stakes showdown with Republicans who oppose the package despite the risk of triggering a fiscal crisis.
A report being circulated by Democrats warned that a potential downturn from government funding cutbacks would cost 6 million jobs and stock market losses would wipe out $15 trillion of household wealth.
Once a routine matter, raising the debt ceiling has become a political weapon of choice for Republicans in Washington ever since the 2011 arrival of tea party lawmakers who refused to allow the increase.
White House press secretary Jen Psaki told reporters that “in our view, this should not be a controversial vote.” Psaki said Congress has raised the debt ceiling numerous times on a bipartisan basis, including three times under President Donald Trump.
Read our government shutdown live blog for the latest news and updates…
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WEIGHT OF SHUTDOWN
A report being circulated by Democrats warned that a potential downturn from government funding cutbacks would cost 6 million jobs and stock market losses would wipe out $15 trillion of household wealth.
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HOUSE VOTE
The House voted last week to keep the government funded, suspend the federal debt limit and provide disaster and refugee aid, setting up a high-stakes showdown with Republicans who oppose the package despite the risk of triggering a fiscal crisis.
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SHUTDOWN POSSIBLE
The government could face a shutdown this week if a new deal cannot be struck between Republicans and Democrats.
The federal government faces a shutdown if funding stops on at midnight on Thursday, the end of the fiscal year.