United States President Joe Biden

Debt Ceiling: Biden signs bill to avert shutdown of US Government

*United States President Joe Biden announces the passage of the bill ‘meets critical and urgent needs of the nation, including disaster relief for both red and blue states hit hard by Hurricane Ida and other devastating natural disasters’, besides funding resettlement of the Afghan allies

Isola Moses | ConsumerConnect

As the United States (US) Government funding was about to expire midnight Thursday, September 30, 2021, President Joe Biden signed Congress’ 11th-hour funding bill to prevent a nationwide government shutdown in the ‘developed’ economy.

ConsumerConnect gathered the White House’s swift move has given the US Government access to enough funding to last through the weekend.

Government shutdown concept   Photo: Getty Images

Hitherto, the Democrats, who control both the country’s House of Representatives and the Senate, were adamant that the government would remain open.

And, thanks to a sprinkling of bi-partisanship, the bill passed the House and Senate, agency report said.

Treasury Secretary Janet Yellen, earlier in the week, had warned the Congress that the government needed to deal with the debt ceiling in the American economy.

Yellen noted if the Congress failed to act and find a way to keep Federal funding alive, a monetary default would likely be devastating in the country.

Disaster and COVID-19 relief extended

H.R. 5305, the “Extending Government Funding and Delivering Emergency Assistance Act,” not only provides fiscal year 2022 appropriations to Federal agencies through December 3; it also allows for the continuation and appropriation of certain projects such as disaster relief, report stated.

Through an amendment, crafted by Vermont senator Patrick Leahy, the bill keeps the National Flood Insurance Program’s ability to sell new policies and renew existing ones afloat by providing $28.6billion to address natural disasters like Hurricane Ida. Additionally, it provides assistance to support Afghan refugees and America’s Afghan partners.

President Biden, while announcing the bill’s passage, said: “It meets critical and urgent needs of the nation, including disaster relief for both red and blue states hit hard by Hurricane Ida and other devastating natural disasters, and funding to help us resettle Afghan allies in the United States, following the end of the 20-year war in Afghanistan.”

The President stated that passage of the bill “will also keep up our fight against COVID-19 and—on this International Recovery Day—it will continue our battle against the opioid crisis.”

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