Reconciliation Becomes a Focus in Washington

  • Congress has new shutdown deadline of Oct. 1
  • Congress and Trump need Budget Resolution agreement
  • Debt ceiling creates tough issue
  • Fed meets this week

Last week, the House and Senate acted on a six-month Continuing Resolution (CR) that allowed the government to avoid a shutdown Friday at midnight. The result was not without some tension as some Senate Democrats threatened to filibuster the CR and deny Republicans the 60 votes they would need to proceed. However, Senate Democratic Leader Chuck Schumer sensed that a shutdown under President Donald Trump and Musk could be a disaster and agreed to support the CR. The leader was able to get several Democrats to join his effort and the motion to avoid a filibuster passed on a vote of 62 to 38.

The CR keeps most government programs running at their current FY 2024 levels but increases certain categories such as defense, health and immigration, while authorizing reductions of approximately $13 billion in other spending. However, on Oct. 1, the beginning of the new fiscal year will eventually come to Washington, and Congress will need to try again to pass a budget. Democrats will likely try to put in language requiring the administration to spend all monies approved by Congress and Republicans in Congress. The White House will again oppos...
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