Republican and Democratic negotiators in Congress are close to finalizing a stopgap bill to fund the government through March 14, preventing a partial shutdown set to begin Saturday, according to a source familiar with the talks. The measure would maintain the current $6.2 trillion federal budget, funding essential services like the military, air traffic control, and federal regulators. It is also expected to include an extension of the farm bill, typically renewed every five years, a Republican Senate aide said.
The stopgap bill is necessary because Congress failed to pass the 12 annual appropriations bills before the fiscal year began on October 1. Mandatory programs like Social Security and Medicare, which make up two-thirds of the budget, will continue automatically.
Congress’ inability to address the growing gap between federal revenue and spending has driven the national debt to over $36 trillion. Lawmakers will face this issue again early next year when the 2023 agreement to extend the debt ceiling expires. A failure to act could disrupt bond markets and damage the economy.
Democrats had sought a longer-term solution through September 30, the end of the fiscal year. Republicans opposed this, preferring to delay final decisions until after President-elect Donald Trump takes office on January 20, when Republicans will control both the Senate and House. Trump has pledged to cut federal programs and reduce the workforce significantly.
Also read: Schumer Calls for Drone Detection Systems After Mysterious Sightings in NY, NJ
