House Republicans eye 6-week debt limit extension
Oct. 11, 2013 – House Republicans were reportedly discussing a possible six-week extension of the debt limit deadline – currently projected for Oct. 17 – and setting up a second supercommittee to debate the issue further.
At press time, Republicans were discussing passing a “clean” extension – meaning it would not include demands of Democrats in exchange for the extension.
NAFCU President and CEO Dan Berger wrote the leaders of the Senate Banking Committee about the importance of addressing the debt limit deadline.
“Failure to address the debt ceiling would threaten growth and recovery, deter investor confidence in the United States, and breed uncertainty on a global scale,” Berger wrote in his letter to Chairman Tim Johnson, D-S.D., and Ranking Member Mike Crapo, R-Idaho. “Financial institutions of all sizes, including credit unions, need to have certainty and stability in order to meet the credit needs of consumers across the country.”
NAFCU is maintaining a running list of credit unions promoting special programs and services to furloughed federal workers. Several credit unions have offered 30- to 60-day, zero-interest loans to members affected by the shutdown.
To add your credit union to the list, send an email to Quincy Enoch, NAFCU’s associate director of legislative affairs and military liaison, to firstname.lastname@example.org.
NAFCU Government Shutdown Assistance Web page