IWS Updates

As we write, the House and Senate are working feverishly to come to agreement on the Build Back Better legislative package. The House of Representatives has put together a truly transformational package that would go a long way toward meeting fundamental and urgent needs and pave the way for a true economic recovery that fully includes people of color and people with low incomes in our country.   And these investments would be largely paid for by improvements in tax enforcement and increases in taxes for the wealthy as well as controlling prescription drug costs. As negotiations continue, now is the time to weigh in with members of Congress to make clear the urgency of passing a bill that will fulfill the promises of making meaningful improvements in the lives of Americans with low and moderate incomes, improving our economy as a whole, and increasing racial equity. 

On September 30, both chambers of Congress passed a continuing resolution to allow for appropriated government spending to continue through December 3, 2021, thus avoiding a government shutdown. Importantly, this bill also extended the TANF block grant, which would otherwise have expired. The next critical deadline is the October 18 date when the Treasury Department estimates that the nation will not have the funds to pay its bills unless the debt ceiling is raised or suspended. Raising the debt ceiling does not authorize any new spending but allows the U.S. to meet the commitments already made–including Social Security payments, the advance child tax credits, payments to Medicaid providers, as well as interest on the money borrowed previously. Outrageously, Senate Minority Leader McConnell has said that the limit must be raised, but that Republicans will neither provide any votes to do so, nor allow it to be passed by unanimous consent.