Congress Races to Pass a Spending Bill as a Gov. Shutdown Looms — The Kiplinger Letter

To help you understand what comes next regarding a possible government shutdown as Congress scrambles to pass a spending bill, our highly experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts (Get a free issue of The Kiplinger Letter or subscribe). You'll get all the latest news first by subscribing, but we will publish many (but not all) of the forecasts a few days afterward online. Here’s the latest… 

The spotlight on Speaker Kevin McCarthy (R-CA) is becoming a bull’s-eye. And even his fellow Republicans are shooting arrows, as Congress races to pass a spending bill and avoid a government shutdown at the end of September. 

Some Republicans say they would welcome a government shutdown if they don’t get their way on certain legislative ultimatums. Among them are provisions that would restrict the Department of Justice’s ongoing investigations and prosecution of Donald Trump and a rollback of certain Pentagon policies, including support for service members who must travel to obtain abortions. McCarthy has tried to appease them by launching an impeachment inquiry into President Biden. But by doing so he has alienated moderate House Republicans, who fear a shutdown or impeachment will imperil their reelection chances. McCarthy’s future as the speaker may depend on his threading this needle. So might the Republicans’ majority in the House if the government shuts down and voters blame the GOP, a scenario beneficial to Biden and the Democrats. 

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This forecast first appeared in The Kiplinger Letter, which has been running since 1923 and is a collection of concise weekly forecasts on business and economic trends, as well as what to expect from Washington, to help you understand what’s coming up to make the most of your investments and your money. Subscribe to The Kiplinger Letter.