As September comes to a close, the U.S. government seems headed for a shutdown, which would begin on October 1. Although it is possible that a last-minute agreement could keep the lights on, that becomes less likely with each passing day. Here's a look at the federal funding process, the current situation in Congress, and the potential consequences of a failure to fund government operations.
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posted in Financial Planning, shutdown, 2023, Congress, Government
In late May 2023, Congress sent a letter to U.S. Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel saying that it will introduce legislation to correct several technical errors in the SECURE 2.0 Act. The letter, signed by Senators Ron Wyden (D-OR) and Mike Crapo (R-ID), chair and ranking member of the Senate Finance Committee, respectively, and Representatives Jason Smith (R-MO) and Richard Neal (D-MA), chair and ranking member of the House Ways and Means Committee, respectively, describes four provisions in SECURE 2.0 with problematic language.
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posted in Financial Planning, Technology, 2023, SECURE Act, Treasury, Congress
