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Stopgap bill signed by President a temporary fix to US debt limit issues

2 years 8 months 2 weeks ago Friday, October 01 2021 Oct 1, 2021 October 01, 2021 7:57 AM October 01, 2021 in News
Source: CNN

A government shutdown that would have happened at midnight was officially prevented Thursday when President Joe Biden signed Congress' stopgap funding bill to extend government funding through December 3, CNN reports.

The stopgap bill the President signed will also provide funding to help process and resettle Afghan refugees and provide critical disaster aid for Americans battered by storms and wildfires.

The bill passed the House and Senate earlier in the day with a bipartisan vote.

But as a temporary measure, its passage only delays the nation's debt limit issues for a brief period of time.

Treasury Secretary Janet Yellen warned that the federal government will likely run out of cash and extraordinary measures by October 18.

Congress must now work to ward off what would likely be a catastrophic default.

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