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On December 21, 2024, President Biden signed a new law that keeps the U.S. government funded until March 14. This came after the government almost shut down because there wasn’t enough money to keep it running. The bill passed with huge support in both the House and Senate. It gives $100 billion to help places hit by hurricanes and wildfires and $10 billion to help farmers. But it did not include a special request from President-elect Donald Trump about the debt limit.
Even though the government didn't shut down for long, businesses should still know how it can affect them. When the government shuts down, important services like small business loans or IRS audits can be delayed. Also, E-Verify, the system used to check if new employees are eligible to work, might not be available. National parks and museums could close, which would hurt businesses that depend on tourism. States might also struggle to pay unemployment benefits because of the shutdown.
However, some things will continue, like Social Security payments and mail delivery by the USPS. Also, Medicare and Medicaid will still work, but there might be small delays.
If you or your business is affected, a Tax Refund Advance to help. You can get up to $2,500 with no fees or borrow up to $6,000 with a 36% APR(about $40-$50), giving you some cash until your tax refund arrives, click here to get your Refund Advance today!
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