Understanding Government Shutdowns
📄 Taxes
Quick Definition
A government shutdown occurs when non-essential federal offices cease operations due to a lack of approved funding by Congress.
Examples
- 1In 2013, the U.S. government shutdown affected national parks, causing them to close and resulting in lost tourism revenue.
- 2During a government shutdown, many federal employees are furloughed, leading to delayed public services such as passport processing.
- 3Government contractors often experience delayed payments during a shutdown, impacting their financial stability and operations.
Tags
government shutdownfederal governmentbudget impassepublic serviceseconomic impact
Related Terms
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Quick Info
Category:Taxes
Difficulty:intermediate
Last Updated:6/19/2025