Fortune Sky is Your Go-to Source for the Latest Finance News, Covering Markets, Business, Industries and Internet.
⎯ 《 Fortune • Sky 》

White House seeks short-term funding to avoid government shutdown -report

2023-08-31 22:47
WASHINGTON (Reuters) -The White House on Thursday asked Congress to pass a short-term government funding extension to avoid an Oct.
White House seeks short-term funding to avoid government shutdown -report

WASHINGTON (Reuters) -The White House on Thursday asked Congress to pass a short-term government funding extension to avoid an Oct. 1 partial government shutdown as budget talks continue, the Washington Post reported, citing a spokeswoman for the Office of Management and Budget.

“Although the crucial work continues to reach a bipartisan, bicameral agreement on fiscal year 2024 appropriations bills, it is clear that a short-term continuing resolution (CR) will be needed next month,” an Office of Management and Budget spokeswoman told the news outlet.

Representatives for the agency could not be immediately reached for comment on the report.

Current funding for most government programs expires on Sept. 30. If no action is taken before the next fiscal year begins on Oct. 1 large swaths of government functions would shut down.

The need for a stop-gap spending bill -- one that might extend through late November or early December -- has been a foregone conclusion for months.

Every year Congress struggles over 12 funding bills keeping most federal programs operating.

With only weeks to go before the deadline, the Republican-led House of Representatives has approved only one of those 12 bills. Spending and tax measures normally originate in the House before moving to the Senate.

Senate Republican Leader Mitch McConnell, speaking on Wednesday to a business group in his home state of Kentucky, noted: "I think we're going to end up with a short-term congressional resolution, probably into December as we struggle to figure out exactly what the government's spending level is going to be."

Such a measure is expected to be attached to new emergency money to pay for natural disasters throughout the United States and to bolster Ukraine's battle against Russia.

Details still must be worked out amid deep divisions among House Republicans.

(Reporting by Tim Ahmann; Writing by Susan Heavey and Richard Cowan; Editing by Chizu Nomiyama and Andrea Ricci)