That’s how many percentage points could be shaved from fourth-quarter U.S. economic growth in the event of a partial government shutdown, according to some economists.
The chances of a government shutdown increased over the weekend after the Republican-led House voted 231-192 on Sept. 28 to delay parts of President Barack Obama’s health-care law by one year while funding government services through Dec. 15.
Only four of the 423 House members who voted broke party ranks, underscoring the partisan nature of the debate.
The Democratic-led Senate opposes the House’s position and Obama administration officials have said the president would veto any stopgap spending measure that curbs the Affordable Care Act. The new fiscal year begins tomorrow.