Congress is having trouble with fiscal 2023 and is trying to move forward by handling issues one by one. On the other hand, the White House is completely ready for the final votes while the Senate is still trying to write the bills.
Congress is looking for ways to fund federal agencies without any additional budget requirements until mid-December. However, the momentum for the 10-week stopgap bill may not be enough to prevent a government shutdown.
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If a government shutdown happens, this will be in question in most states because of the lack of funding. Many federal agents will not be able to receive their paychecks, and thus, the economic shrinkage will continue rapidly.
Although Congress is trying its best to prevent this government shutdown in 2023, this has become a kind of tradition for the government. In addition to this, the gap in the budget is increasing every year, and considering the government’s spending, it seems like it will never close in the near future.
Government Shutdown Might Be Longer Than Expected
It is worth remembering that the FY 2022 appropriations were signed on March 15, which led to almost six months of restricted funding compared to the previous year. Considering this, FY 2023 may be much more challenging for Congress and the citizenry.
Experts believe that it is likely that we are going to witness another series of continuing resolutions for 2023. Thus, the government shutdown will be longer than anticipated. The effects of this government shutdown in 2023 will have a devastating effect on the economy.
Without a doubt, the local businesses that mainly serve federal employees will be the ones that will be most affected by this situation. While they are still trying to cover their wounds from the pandemic, the shutdown and its effects could be a huge setback for them.
Besides the federal and service members, their families are also significantly affected by the continuous resolutions. On the other hand, what worries people is that the government has a history of not taking any real action to find a long-term solution to this issue.
The hope of finding a funding solution by the end of September had already turned into a dream. The economy is significantly impacted by events like rising inflation, the Russian invasion of Ukraine, the unsure state of the president’s budget, and many others.