Legislative Updates

Congress has a week to pass a stop-gap funding bill to avert a shut down, suspend the debt ceiling so that the country can continue to meet its financial obligations, pass the bipartisan Infrastructure Investment and Jobs Act before the FAST Act expires, and try to pass the $3.5 trillion Build Back Better Act. Will they be able to do it?

Stop-Gap Funding Bill and Debt Ceiling

On Tuesday the House voted 220-211 to pass H.R. 5305, the Extending Government Funding and Delivering Emergency Assistance Act. If passed, this bill will continue funding federal government operations and services through December 3, 2021 at fiscal 2021 levels. Additionally, this bill suspends the debt ceiling through December 16, 2022.

Infrastructure Investment and Jobs Act

The stop-gap funding bill does not contain language extending the FAST Act. House Leadership has confirmed that it plans to hold a vote on the bipartisan infrastructure bill on Monday, September 27.

Build Back Better Act

Today House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer announced that they reached an agreement on a framework of options to pay for items included in this bill. House Budget Chair John Yarmuth also mentioned today he expects a markup on the bill Saturday.

Political Situation

Democrats identifying as progressives are claiming that they won’t vote for the bipartisan Infrastructure Investment and Jobs Act unless the Build Back Better Act passes. Meanwhile, Democrats identifying as moderates are claiming they won’t vote for the Build Back Better Act unless the bipartisan Infrastructure Investment and Jobs Act passes.

At this time, it is questionable whether the Build Back Better Act will be ready for a vote on Monday. Additionally, Senate Republicans have vowed to not vote for the stop-gap funding bill because it suspends the debt ceiling. Things are looking grim.