With Congress officially on their 5-week August recess and only nine legislative days left (House) before the end of the federal fiscal year, talks around DC of a Continuing Resolution (CR) seem to be gaining momentum. Just before departing last week to their respective districts, progress on several remaining FY14 spending bills stalled and it is highly unlikely that both parties could come to an agreement and finish the appropriations process before the September 30th deadline. Reports have come out that Republicans may push for a short-term CR of around 2 months, which would push the process to November – right around the time we are set to once again bump up against the debt limit. Democrats, hoping to avoid a situation where the debt ceiling is used as a negotiation tactic once again, are speaking out against a short-term CR and calling for something longer.
August 5, 2013