Biden Signs Bill to Avoid Government Shutdown

What Happened:

• On Thursday evening, President Biden signed legislation to keep the government funded through December 3 and avoid a federal shutdown on Friday.

• The short-term funding bill was approved by Congress earlier in the day.

• Democrats had tried to pass a bill earlier in the week that would approve funding as well as raise the debt ceiling, but met firm opposition from Republicans.

• The new bill removed the portion dedicated to raising the debt ceiling and focused purely on short-term funding.

• Both parties have been at odds over raising the government's borrowing cap (debt ceiling), the Democrats say it is necessary for the United States to avoid a default on payment.

• Treasury Secretary Janet Yellen said that if the cap is not raised by October 18, the US will face a financial crisis and an economic recession.

Developing Story

Photo Source: Gage Skidmore

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