With a vote in the House starting to clear the way for a federal budget extension, keeping the government open until at least December 20, would seem yet another fiscal disruption has been avoided. But perhaps not soon or well enough to prevent another credit downgrade.
The legislation may have passed by 341 to 82, with the Senate expected to have passed it by Thursday. However, Moody's on Tuesday published an analysis that credit effects depend on the policies enacted after the presidential election and the makeup of the incoming government.
"Credit risks lie in the possibility of abrupt and disruptive changes to tax, trade and investment, immigration and climate policies among other areas," the company wrote.
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