State Treasurer Michael Frerichs Warns of Federal Government Shutdown's Impact on Illinois
SPRINGFIELD – Illinois State Treasurer Michael W. Frerichs is warning about the dangers of a potential federal government shutdown if the U.S. House and Senate cannot meet the looming government funding deadlines. Treasurer Frerichs believes a shutdown threatens the well-being of Illinois families, workers, businesses, and the entire U.S. economy. “A federal government shutdown will needlessly harm families fighting to pay bills, recklessly damage the business community which needs certainty to plan, and threaten our economy,” Treasurer Frerichs said. “Congress must stop the name-calling, work together to find a compromise, and stop kicking the can down the road.” Congress faces two government shutdown deadlines following stopgap legislation passed in November 2023. In a shutdown, federal agencies must stop all non-essential discretionary functions until new funding legislation is passed and signed into law. Spending authority for an array of high-profile
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