The House of Representatives will vote Thursday on a Joint Resolution to fund the operations of the Federal government through Dec. 11. Spending levels will continue for about 10 weeks of so from end of the Fiscal Year on September 30 at about current levels.
The Continuing Resolution caps annual spending at the 2014 $1.012 trillion level.
Congress needs to take this action to avoid another “government shutdown” because it has not passed any of the dozen appropriations measures intended to fund the government for a full fiscal year.
The House has passed seven appropriations bills but the Senate under the screwball leadership of Senator Harry Reid (D-NV) has not yet passed a single one, in fact the Senate has not even taken one vote on any appropriation measure. Pure dereliction.
What does this mean if this date is adopted?
It means this Congress has totally capitulated. Members want to adjourn and will adjourn, likely to return in late November. However, the December 11th date of continuing funding also means Congress will stay around for only a few weeks and it is highly unlikely any major issue will be addressed, that will falls to the next Congress. Of course there will have to be another CR but there will be no drama.
The Resolution in the House kicks any decision on the re- authorization of the Export-Import Bank until June 30, 2015, eliminating this contentious issue for the time being. There are a few issues such as extension of expired tax provisions that need to be dealt with one way of the other and perhaps addition money for action against ISIL.
However, for the most part, it is see you next year.