By Greg Iacurci
The federal government shut down on Oct. 1. Depending on how long a shutdown lasts, it could have far-reaching implications for household finances.
Follow CNBC’s live blog for government shutdown updates.
Those repercussions might include anything from delayed paychecks and layoffs for federal workers to broad effects for other Americans, including disrupted travel plans and an inability to get a mortgage, economists said.
Enhanced subsidies for the Affordable Care Act — also known as Obamacare — that have made health plans less expensive for millions of enrollees in recent years are also indirectly at stake.
What is a government shutdown?
Every year, Congress must pass legislation to fund the federal government for the coming fiscal year. A shutdown occurs if Congress can’t wrap up the appropriations process on time.
Oct. 1 marks the start of the 2026 fiscal year.
During a shutdown, the government halts all unfunded “nonessential” functions, Jennifer Timmerman, investment strategy analyst at the Wells Fargo Investment Institute, wrote in a note Monday.
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