Capitol Hill Update
Congress has adjourned for the Thanksgiving district work period following House passage of the Build Back Better Act (BBBA) late last week. Lawmakers will return on Monday, November 29, when they will have less than five days to act on the looming December 3 government funding deadline. With Democrats and Republicans still very far apart on a topline funding agreement for fiscal year (FY) 2022, it is likely that another short-term continuing resolution (CR) will be needed to avert a shutdown. While the stopgap funding measure has yet to be formally unveiled, intel from Capitol Hill suggests that the legislation will likely extend the funding date toward the middle or end of December. In addition to appropriations, lawmakers will also need to tackle the December 15 debt ceiling “X date” and the annual National Defense Authorization Act (NDAA), among other key year-end priorities.
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