Congress facing 3 major economic deadlines by year-end

The flurry of activity in Congress will not wane soon.

Lawmakers have spent their early fall jumping among high-stakes agenda items. The breakneck pace will continue in the coming months, and Washington’s ability to meet several upcoming deadlines could hold implications for the country for years to come.

The first target comes Oct. 18, the estimated date when the U.S. will no longer be able to pay its bills unless Congress raises or suspends the debt ceiling, according to Treasury Secretary Janet Yellen. Democratic leaders also want to pass both a bipartisan infrastructure bill and a larger plan to invest in the social safety net before major transportation funding programs expire at the end of October.

Adding to the to-do list, Congress will have to act by Dec. 3 to prevent a government shutdown.

Here’s what’s ahead as lawmakers try to beat the looming deadlines.

While Yellen gave congressional leaders an estimated Oct. 18 deadline, she noted the Treasury could run out of ways to pay its bills either before or after the date. How lawmakers will resolve the crisis is unclear.

Democrats have made several attempts to suspend the debt ceiling in recent weeks. Senate Republicans have stymied every effort to do so, and will likely block an attempt this week by Majority Leader Chuck Schumer, D-N.Y., to approve a House-passed bill to suspend the borrowing limit.

Republicans have argued Democrats should raise or suspend the ceiling on their own as they prepare to approve a massive bill to invest in the social safety net and climate policy. Democrats, including President Joe Biden, have argued the GOP has taken a dangerous stance for political gain as the U.S. risks economic turmoil.

Failure to raise the debt ceiling would not only shut the door on future spending, but also prevent the U.S. from paying for its current obligations. Democrats have pointed to the fact that Republicans joined them in approving trillions of dollars in emergency coronavirus aid since the last borrowing limit suspension in 2019.

Congress has raised or suspended the debt ceiling 78 times since 1960, according to the Treasury. While addressing the borrowing limit is typically uneventful, Republicans have used the deadlines as political leverage more often in the last decade. With the 2022 midterms coming up, Republicans see saddling Democrats with the task as an opportunity to take back the House and Senate. With the 2022 midterms coming up, Republicans see saddling Democrats with the task as part of their strategy to take back the House and Senate.

Democrats may have to raise the ceiling on their…