If a government shutdown occurs and/or a strike cannot be prevented, significant parts of the U.S. economy could be affected just over a month before the 2024 presidential election.

Of course, there is still time for members of Congress to negotiate a stopgap bill. On Wednesday, September 18, the House of Representatives rejected a bill by Republican Speaker Mike Johnson that would have funded the government for another six months. On Thursday, Johnson and other Republican politicians signaled that they were interested in keeping the government running.

The International Longshoremen’s Association also still has time to negotiate a contract with the United States Maritime Alliance. However, as of Wednesday, there had been no negotiations, nor were any planned, the Wall Street Journal reported this week.

The two potential crises have nothing to do with each other other than a common ominous deadline. Here’s what’s happening in both crises.

A government shutdown

The rejection of Johnson’s plan on Wednesday heightened tensions in Congress as the September 30 deadline approaches.

In the 220-202 vote, 14 Republicans joined Democrats in blocking the bill, which faces opposition from both the White House and Senate Democrats.

Although the bill’s failure had been expected for days, former President Donald Trump likely did not help Johnson’s cause by pushing Republicans to fully adopt a voter registration law that requires proof of citizenship to participate in national elections or to push for a shutdown.

With Johnson now forced to work across party lines, Democrats are likely to propose a three-month stopgap measure, the Washington Post reported. On Thursday, the Wall Street Journal reported that GOP leadership is discussing a bill that would keep the government running until mid-December.

The consequences of a government shutdown before the presidential election would be dire for both parties, but Senate Minority Leader Mitch McConnell told reporters on Wednesday that he believes Republicans would bear the brunt of the blame.

If Congress fails to pass such legislation by September 30, the government would enter a partial shutdown on October 1. This means that unfunded federal agencies would have to stop all nonessential work until a new funding bill is passed and enacted.

During a shutdown, non-essential government employees will be furloughed, social programs such as Social Security, Medicare and veterans benefits may be disrupted, and national parks will be closed to the public.

The 35-day shutdown in 2018 and 2019 reduced GDP by $11 billion, according to an estimate by the Congressional Budget Office.

The three previous shutdowns, which occurred in 2013, 2018 and again in 2018-2019, cost taxpayers nearly $4 billion, according to the Senate Budget Committee.

A closure of the docks

At the same time, the likelihood that 45,000 dockworkers in ports from Maine to Texas could be affected increases with each passing day.

The dockworkers’ collective bargaining agreement expires at the end of this month and the International Longshoremen’s Association has announced that its members will go on strike if no agreement is reached.

The union is demanding a 77 percent wage increase over six years, the Journal reported.

The looming economic threat is causing U.S. importers to rush shipments of goods for the holidays. To avoid a possible strike, millions of dollars worth of goods are being shipped in a hurry, according to the outlet.

A strike would likely result in large amounts of cargo being diverted to West Coast ports, which could clog gateways, the Journal said.

If these busy ports were to cease operations before the peak holiday season, the economic consequences for retailers and consumers could be devastating.

According to the Retail Industry Leaders Association, a strike could lead to massive delays, increased shipping costs and possible shortages, all of which would have negative consequences for the economy.

According to the industry association, some analysts have predicted that each day of the strike would require five days to clear the backlog.

The government could step in to help the two sides reach an agreement, although the dockworkers have said they do not want government intervention. President Joe Biden could also “seek a court order for an 80-day cooling-off period under the Taft-Hartley Act,” according to RILA. This would pause the strike while negotiations continue.