Market
Congress's approach to debt limit in early 2025?
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Resolution / Starting Odds
Pass a short-term extension • 25%
Pass a long-term extension • 25%
Fail to pass any extension • 25%
Other legislative solution • 25%
Official records from Congress or major news outlets
Story
Biden Signs Funding Bill Averting Shutdown; Congress Rejects Trump's Debt Demand
Dec 21, 2024, 05:01 PM
President Joe Biden signed a stopgap funding bill into law on Saturday, averting a government shutdown just days before Christmas. Congress passed the bill just past the deadline in a late-night vote, sending it to Biden's desk for signing. The legislation funds the government at current levels through March 14, 2025, and provides $100 billion in disaster aid and $10 billion in agricultural assistance to farmers. The passage came after last-minute turmoil in Congress, with President-elect Donald Trump's intervention imperiling its passage. Congress ultimately rejected Trump's demand for a debt limit extension in the package, deferring future spending decisions into Trump's presidency.
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No action taken • 25%
Suspend the debt ceiling • 25%
Raise the debt ceiling • 25%
Other fiscal measures implemented • 25%
Raise the debt ceiling • 25%
No action taken • 25%
Introduce alternative fiscal measures • 25%
Suspend the debt ceiling • 25%
Compromise with new conditions • 25%
Unresolved • 25%
Temporary extension • 25%
Permanent abolition • 25%
Debt ceiling raised • 25%
Debt ceiling suspended • 25%
Other • 25%
Government shutdown occurs • 25%