Government Funding: Shutdown Showdown

September 23, 2025 

With just one week remaining before current government funding expires on September 30, lawmakers are coalescing around a continuing resolution (CR) that would extend funding through November 21. However, the Senate may not clear the 60-vote threshold to advance legislation.

Why it matters: This short-term extension would maintain FY2025 spending levels and provide additional time for Congress to complete work on the FY2026 appropriations bills.

Where we stand as of today; 

  • House Action: House Republicans passed the stopgap legislation last week with a 217-212 vote. Two Republicans voted against, while one Democrat voted for the legislation. The Senate later voted down the bill 44-48 with two GOP and one Dem crossing the aisle. 
  • Senate Math: Passage in the Senate remains more complex, as at least seven Democrats will need to support the measure to reach the 60-vote threshold. On Friday, the Senate voted down Democrat’s CR to fund the government, extend Obamacare subsidies, and rollback Medicaid cuts made in the July reconciliation bill. 
  • Democrats are largely supportive of forcing a shutdown for now, though Sen. John Fetterman (D-PA) has said he will support the CR. 
  • White House Position: The Administration has advocated for a longer stopgap through January 31, 2026, but House Republicans favor the shorter November date to retain leverage over final spending decisions. 

What’s next: The path to avoid a shutdown is narrowing. 

  • However, momentum is building in the House behind a short-term, clean CR through November 21 as the most realistic solution. 
  • It still remains far from a done deal, as Republicans need seven Democratic votes to reach the 60-vote threshold. Unfortunately, the framework of how to get there remains to be seen.

Contact David McCarthy (Dmccarthy@crefc.org) or James Montfort (jmontfort@crefc.org) with any questions.

Contact 

David McCarthy
Managing Director,
Chief Lobbyist, Head of Legislative Affairs
202.448.0855
dmccarthy@crefc.org

James Montfort
Manager,
Government Relations
202.448.0857
jmontfort@crefc.org
The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.

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