The House and Senate passed a two-week continuing resolution (CR) that would keep the government running through March 18 until a compromise can be reached on a year-long funding bill. The funding resolution cuts approximately $4 billion in spending cuts to programs in the current fiscal year, which ends on September 30. The CR contains funding to allow all government agencies, including the IRS, and programs to continue operating at the current level of spending for the next two weeks, except for several programs that will be terminated or cut.

  • Senate Majority Leader Harry Reid said, "We’re going to keep working toward a solution” for the rest of this fiscal year. Reid added, “This time around it may not include everything Democrats want or everything the Republicans want, but we need to have a compromise."
  • President Obama said, "Living with the threat of a shutdown every few weeks is not responsible, and it puts our economic progress in jeopardy."
  • A summary of the cuts in the two-week CR can be accessed here.