- Senate Republicans blocked a House-passed bill that would prevent a government shutdown and a potential default on U.S. debt.
- Lawmakers have to pass an appropriations bill by Thursday to avoid a shutdown, and need to suspend or increase the debt limit sometime in the coming weeks to prevent a default.
- Democrats may be forced to suspend the debt limit on their own, potentially as part of their up to $3.5 trillion budget reconciliation bill.
Congress is running out of time to prevent a shutdown and a default.
Senate Republicans on Monday blocked a bill that would fund the government and suspend the U.S. debt ceiling, leaving Democrats scrambling to avoid a possible economic calamity.
The House-passed legislation would have funded the government into December and suspended the U.S. debt ceiling into December of next year, after the midterm congressional elections.