Congress Votes to Reopen Government and Raise Debt Ceiling

Posted on: October 17th, 2013 by NADO Admin

Last night, the Senate and House approved a Senate bipartisan measure to reopen the federal government and raise the debt ceiling. The measure now awaits the President’s signature, who is likely to sign it into law. This will end the two and half week government shutdown and prevent the U.S. from defaulting on its debt.

Major provisions of the plan:

Reopens the federal government at FY2013 post-sequestration spending levels ($986.7 billion) until January 15, 2014.

Raises the U.S. debt ceiling/federal borrowing authority until February 7, 2014.

Requires both the House and Senate to negotiate a budget framework and produce a conference report by December 13.

Provides retroactive pay to furloughed federal workers.

Requires income verification for people seeking health-insurance subsidies under the Affordable Care Act.

Allows the Treasury Department to use extraordinary measures to pay obligations if Congress does not raise the debt ceiling by February 7, 2014.

The measure leaves the Affordable Care Act in place, but does not address the sequestration cuts scheduled to take place in January 2014. The scheduled cuts would reduce total federal spending by $19.7 billion from the current level of $986.7 billion.

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