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Goldman Sachs (GS) - Get Goldman Sachs Group, Inc. Report analysts said in a Wednesday note that healthcare reform is "hanging by a thread," but upcoming government spending and debt limit deadlines could be cast aside if the healthcare debate continues into September.

"If the Senate approves health legislation this week, it would add further uncertainty to the upcoming debt limit and spending deadlines at the end of September," Goldman wrote. Analysts have expected both bills to pass with bipartisan votes.

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But a lingering healthcare debate could complicate deadlines, "potentially raising the probability of a federal government shutdown and raising the risk that Congress cuts it extremely close in raising the debt limit," analysts said.

Goldman doesn't expect any incremental developments on tax reform until after the fiscal deadlines are resolved. But if the Senate passes healthcare legislation, Goldman doesn't see detailed tax reform proposals until October or later.

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