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As tax bill effort winds down, Congress works to stave off government shutdown

With the U.S. Treasury set to run out of money by Dec. 22, Congress is preparing another stop-gap spending measure that would postpone action on contentious issues until after the holiday break.

Gary Cohn, the director of the National Economic Council and President Donald Trump's chief economic adviser, said on Wednesday that he expects lawmakers to fund the government for an additional two weeks and wait to tackle bigger-ticket items in January. Democrats have pushed for concessions on issues including children's health insurance and immigration.

Bloomberg reports that Cohn said at an Axios event that spending and military issues will be dealt with at the beginning of January.

Senate Majority Leader Mitch McConnell told Fox News that a government shutdown is "not going to happen," and that Congress will come up with a solution because it always does.

A recent Politico report indicated that the House and Senate are at odds over what would be included in the funding bill. McConnell reportedly told Sen. Susan Collins, R-Maine, that the continuing resolution would include legislation to stabilize the Affordable Care Act's insurance markets. That provision likely would not have passed the House, which had voted to repeal the healthcare law earlier in 2017, while the effort failed in the Senate.

The House also pushed for a spending proposal that would have funded the Pentagon without addressing any Democratic priorities, according to Politico.