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Edition 5 september 2017 - Crédit Agricole S.A.
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  • Edition 5 september 2017

    US Congress is back in session with an urgent legislative agenda

    A USD7.9bn down payment on disaster recovery relief requested by President Trump for victims of hurricane Harvey is likely to be approved quickly. Congress will need to raise or suspend the debt limit to avoid a potential Treasury default. The debt limit legislation might be linked to the increased spending appropriation for disaster relief in the wake of hurricane Harvey.

  • Download publication - (PDF - 349.43 Ko)

  • Contents:

    - First things first
    - Debt limit
    - Government shutdown?

  • Extract:

    Non-essential Federal government services will shut down on 1 October unless Congress approves funding for the new fiscal year. A short-term continuing resolution (CR) to maintain outlays at current levels is expected. It could be the first in a succession of CRs as Congress struggles with tax reform and the 2018 budget. 
    Considering the difficulties of enacting major tax reforms without bipartisan support, we believe the odds favor little progress on tax reform, but potential deficit-increasing tax cuts in 2018.

  • Associative topics : Economics | North America

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