1. Update
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Where's the Money for Fiscal Year 2018?

Updated September 7 at 4 p.m.

September 7, 2017

Fiscal Year 2017 ends on September 30. The debt limit will be reached in mid December. So, how's it going, Congress?

Congressional leaders from both parties reached agreement with the President to proceed immediately with a three-part package: aid for those impacted by Hurricane Harvey, a three-month extension on the federal debt limit, and a three-month “continuing resolution” to continue spending at FY2017 levels until December 15.

  • On Tuesday, the 5th, the House passed a $7.85 billion “Harvey aid” bill by a vote of 419 to 3.
  • Today, the 7th, the Senate voted 80 – 17 to amend and approve the “Harvey aid” bill and returned it to the House for its consideration and vote. The bill now authorizes $7.4 billion for the Federal Emergency Management Agency, $7.4 billion for Community Development Block Grants, and $450 million for the Small Business Administration’s disaster loan program.
  • The Senate also added an extension of spending authority and the debt limit until December 8.
  • Both Senate Majority Leader Mitch McConnell and Senate Minority Leader Charles Schumer supported passage of the package today.
  • In the House, the steering committee of the 150-member Republican Study Group sent a letter to Speaker Paul Ryan expressing the committee's opposition to the Senate bill. The House is expected to act quickly on the revised bill.