I was watching MSNBC and the statement was made that a government shut down was ahead because the Republicans wanted deeper spending cuts. I thought this part of the deal eliminated the threat of a government shut down.
Once default is off the table, lawmakers can return to writing the 12 spending bills that must be passed to keep the government running beyond this fiscal year. As an incentive, the deal includes a 1% across-the-board cut if Congress hasn’t approved the annual spending bills by Jan. 1, 2024.
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To those who know how the budget process works, can you clarify this for me? I don’t want to go through the next few months thinking about this incorrectly. My take was that if they did not produce the spending bills, that the automatic cuts go into effect. To me that means no government shut down. Is my reasoning to simple?
Thank You.