On September 30, the end of the current federal fiscal year, President Joe Biden signed into law a continuing resolution (CR) to fund the government through December 3. The CR funds the federal government at current levels, averts a government shutdown and allows Congress more time to reach an agreement on FY22 appropriations. The U.S. House of Representatives has passed nine of the 12 annual spending bills, but the U.S. Senate has yet to pass any.
At the same time, negotiations reached a stalemate over the $1.2 trillion Infrastructure Investment and Jobs Act and the massive $3.5 trillion budget reconciliation. The budget reconciliation plan, known as Build Back Better, is a tax and spend package covering 10 years for social programs and climate action that is part of President’s Biden domestic agenda. Using the budget reconciliation process allows it to pass with a simple majority, without Republican support.