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U.S. Senate passes bill to keep gov't funded through Dec. 3, avoiding possible government shutdown Updated: 2021-10-01 07:16:39 KST

Just before the major fiscal deadline, the U.S. Senate has passed a bill to keep the government funded into early December, preventing a government shutdown.
The bill passed with 65 in favor, achieving the 60-vote threshold needed.
If the bill had not been enacted, the federal government would have faced a shutdown on Friday.
With the latest move, both the Senate and House passed a short-term appropriations bill to keep the government running until December 3rd.
And, the country will be able to avoid a lapse in funding once President Joe Biden signs it into law.
The Senate's resolution does not include the debt limit increase, which the Republicans had been opposed to, forcing the Democrats to approve the bill on their own.
Nevertheless, it does include billions of dollars to assist in responding to two recent, deadly hurricanes that battered the Gulf Coast and Eastern Seaboard as well as other funds to aid the re-settling of refugees arriving from Afghanistan.
Meanwhile, U.S. Treasury Secretary Janet Yellen has called for the removal of the debt ceiling, stressing that a potential default is looming for the country in October.

"It is imperative that Congress address the debt limit. If not, our current estimate is the Treasury will likely exhaust its extraordinary measures by October 18th. At that point, we expect Treasury would be left with very limited resources that would be depleted quickly. America would default for the first time in history."

Addressing the House Committee on Financial Services Thursday, she also added that it would be "catastrophic" if Congress does not raise the debt ceiling, pointing out that it needs to make decisions on taxes and spending.
She warned a possible default on U.S. debt would result in job losses, economic damage, and a drop in the stock market.
Kim Hyo-sun, Arirang News.

News just in, President Biden has signed the stopgap bill, which will now keep the government funded through early December, narrowly averting a government shutdown.
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