In addition, there are the latest rumors about House Speaker John Boehner’s ability to maintain order over a temperamental conservative wing of his party. This includes rumblings of potential efforts to remove him from his leadership position. All this is casting an ominous shadow over the other tasks at hand on Capitol Hill.
If a long term agreement or short term extension cannot be reached, which many fear based on recent controversies, a government shutdown is likely similar to the one 2013. Additionally, the debt ceiling is expected to expire between mid-November and mid-December. And this, ultimately, stages another fight over government spending that, if not addressed, will impact financial markets.
The expiration or exhaustion of other programs like the Highway Trust Fund, the EB-5 Immigrant Investor Program, and the Import-Export Bank must also be acted on by Congress to prevent any interruptions.
And finally, Presidential politics will almost certainly play into the dynamic in Congress this fall - resulting in a rocky few months for policy makers.