Deloitte
Tax  |  October 1, 2021
Global InSight
Tax News & Views
Capitol Hill briefing.
 

Print Facebook Twitter Linkedin

Stop-gap funding bill signed into law

adCongress this week approved and President Biden signed a “clean” short-term continuing resolution (H.R. 5305) that funds the federal government at fiscal year 2021 levels through December 3 of this year, averting a partial shutdown that otherwise would have occurred when FY 2021 ended at midnight on September 30.

 

As originally approved in the House on September 21, H.R. 5305 called for extending government funding through December 3, providing supplemental appropriations to aid victims of recent US natural disasters and assist in the resettlement of Afghan refugees, and suspending the federal debt limit through December 16, 2022. Senate Majority Leader Charles Schumer, D-N.Y., attempted to bring it to the floor on September 27; but that effort failed in the face of a promised filibuster from Senate Republicans, who objected to a further suspension of the debt limit. Breaking a filibuster requires a three-fifths supermajority – typically 60 votes – and Democrats were unable to convince any of their GOP colleagues to break ranks and support advancing the House measure. (See separate coverage in this issue for additional discussion about the debt limit.)

 

Senators subsequently amended the bill to strip out the debt ceiling language and approved it on September 30 by a vote of 65-35. The Senate-approved version – including only the short-term funding extension plus the supplemental appropriations for disaster relief and refugee resettlement – was quickly sent back to the House where it was passed the same day by a vote of 254-175. President Biden signed it into law that evening.

 

With a funding patch in place, lawmakers have additional time to complete and pass the 12 spending bills needed to fund government operations for fiscal year 2022, which began October 1. But the temporary extension also sets the stage for a possible fiscal standoff in early December if the two chambers are unable to agree on a long-term spending plan in the coming weeks.

 

—

Michael DeHoff

Tax Policy Group

Deloitte Tax LLP

 



Back to top

 
In this issue

House vote on bipartisan infrastructure package delayed as bicameral framework for reconciliation bill remains elusive

Stop-gap funding bill signed into law



Helpful resources

New Episodes: Tax News & Views Podcast

Visit Deloitte.com

Tax News & Views archive

Read IRS Insights

Read U.S. Inbound Corner

Read Accounting for Income Taxes

Join Dbriefs

Follow us on Twitter

Get the Tax@hand mobile app



Have a question?

If you have needs specifically related to this newsletter's content, send us an email to have a Deloitte Tax professional contact you.
 

Deloitte.com  | Manage email preferences  |  Legal  |  Privacy

30 Rockefeller Plaza
New York, NY 10112-0015
United States

About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

Copyright © 2021 Deloitte Development LLC. All rights reserved.
36 USC 220506



Facebook Twitter Linkedin Google Plus Email