Of the many budgetary measures and funding bills that keep the Government operating, things were looking optimistic in July when both chambers of Congress successfully approved 10 of 12 such items. Matters have been quiet on that front except for a stopgap rushed through to stave off a shutdown until November 21st. Then, on October 29th, the Senate minority leader Chuck Schumer expressed he was worried that the President “will want to shut down the government again because of impeachment… He always likes to create diversions.”
If not to distract people from the impeachment inquiry, the shutdown could occur for another reason: OPM. Between the House of Representatives and Senate’s versions, there is differing language in the remaining measures that have yet to pass. The House included language that would prevent OPM and GSA from merging- a move that was proposed by the current administration. The Senate, on the other hand, did not impose such stipulations. Should no agreement be made, drafted, and signed by the President by the night of November 21st– another partial shutdown would kick in on the 22nd.
Until Next Time,
**Written by Benjamin Derge, Financial Planner. The information has been obtained from sources considered reliable but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Benjamin Derge and not necessarily those of RJFS or Raymond James. Links are being provided for information purposes only. Expressions of opinion are as of this date and are subject to change without notice. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors.