Shutdown Update: No Signs of a Deal

October 28, 2025

The federal government shutdown continues without an end in sight. Several factors may prompt action over the next week, but neither Republicans or Democrats have shifted their positions. 

  • Federal workers continue to miss paychecks. The military will likely miss their first check after getting paid Oct. 15. The American Federation of Government Employees on Monday called for a clean CR, but the Senate again rejected the clean CR.
  • Food stamp benefits, which have never lapsed before, may run out of money for November and impact 42 million recipients. Some states are trying to tap emergency reserves as federal officials said there is no money available.
  • Insurance premium notifications for exchange policies will become available on November 1. The sticker shock could boost Democrats’ calls for action on Affordable Care Act subsidies.
  • Many have expected disruptions in air travel—whether from air traffic controller shortages or TSA screening personnel—to prompt an end to a shutdown. Although there have been increasing reports of delays in certain airports, no major impacts have manifested as of yet.

What they’re saying: Rank and file Senate Republicans have been teeing up individual bills to alleviate certain shutdown impacts, e.g., paying essential federal workers, SNAP benefits, and the military. Thus far, Democrats have held firm on blocking additional legislation absent a deal. 

  • Democratic leaders Sen. Schumer (NY) and Rep. Jeffries (NY) have called for President Trump to engage on a deal, but Trump has deferred to GOP congressional leaders. 
  • The President is in Asia this week, which makes a White House negotiated deal less likely.
The bottom line: If the shutdown continues into next week, GOP leaders will likely need to extend their House-passed clean CR deadline from November 21 to December or January. 

Contact David McCarthy (dmccarthy@crefc.org) with questions. 

Contact  

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