Daily Tax Update - September 26, 2013: One-Week Continuing Resolution May Be Considered

One-Week Continuing Resolution May Be Considered:  Lawmakers only have a few days to come up with a solution to avoid a government shutdown.  Congress is considering passing a one-week continuing resolution (CR) in order to avert a government shutdown on October 1.   Today, House Speaker John Boehner said that the House is unlikely to accept a clean CR from the Senate.  Boehner said, “I don’t see that happening.”  Boehner added, “I’ve made it clear now for months and months and months that we have no interest in seeing the government shut down, but we’ve got to address the spending problems that we have in this town.  So there will be options available to us.  There is not going to be any speculation on what we are going to do or not do until the Senate passes their bill.”  Senate action on a clean government funding bill without the provision defunding the Affordable Care Act may not be voted on until Saturday.  Some lawmakers are floating the idea of Congress passing a one-week stopgap spending bill which would avert a government shutdown after September 30.

Earlier today, Senate Majority Leader Harry Reid said that he had not spoken with House Speaker Boehner about averting a government shutdown.  Reid said, “Send us a clean [continuing resolution], a clean debt ceiling [bill].  That’s the path forward.  There’s no need for conversations.  We’ve spoken loudly and clearly, and we have the support of the president of the United States.”  Reid added, “We want a clean CR.  That’s what we’re going to get.  If they want to shut down the government, here’s how much time they have to figure it out:  four days, 11 hours, 22 minutes and 15 seconds.”

Yesterday, House Democratic Whip Steny Hoyer (MD) warned that the likelihood of a government shutdown is the highest it’s been in years.  Hoyer said, “This is the highest risk that I’ve seen because I see the least willingness to do what is absolutely essential in democracy, and that is to work together.”