Near midnight on Friday, the U.S. Congress reached agreement on a one-week extension of funding for federal agencies, narrowly averting a shutdown. It is expected that this week a bill funding operations through next September will be put to a vote. There is, however, no guarantee that the bill will pass, although progress seems to have been made on resolving issues that prevented agreement on even a temporary funding measure last week. The PTO has indicated previously that it has sufficient funding from user fees to operate for approximately six business days should a shutdown in fact occur, and so we do not anticipate any disruption in operations in the short term. We continue to monitor the situation and will keep our clients and associates informed.
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