WASHINGTON (Reuters) – The U.S. Senate approved a deal on Wednesday to end a political crisis that partially shut down the federal government and brought the world’s biggest economy to the edge of a debt default that could have threatened financial calamity.
The Republican-controlled House of Representatives was expected to take up the measure later on Wednesday after Speaker John Boehner dropped the party’s efforts to link the spending measure to changes in President Barack Obama’s healthcare law.
WASHINGTON, Oct 16 (Reuters) – U.S. Senate leaders announced
a deal on Wednesday to end a political crisis that partially
shut down the federal government and brought the world’s biggest
economy close to a debt default that economists said threatened
U.S. stocks surged, nearing an all-time high, on news of the
deal, which must still be approved by vote in the Senate and the
House of Representatives. But trading volumes remained low,
underscoring how the political brinkmanship in Washington has
unnerved Wall Street.
WASHINGTON (Reuters) – U.S. Senate leaders struck a bipartisan 11th-hour deal to break the fiscal impasse on Wednesday, and the Republican-led House of Representatives agreed to take it up as Congress moved to avert a historic debt default.
With the government’s borrowing authority set to run out on Thursday, aides said House Speaker John Boehner would allow the deeply divided House to vote on the Senate plan for a short-term increase in the debt limit and a reopening of government, which was expected to pass with mostly Democratic votes.
WASHINGTON, Oct 15 (Reuters) – Democratic and Republican
leaders in the U.S. Senate could announce a deal late on Tuesday
to extend the government’s borrowing authority until Feb. 7 and
quickly re-open federal agencies that have been closed since
Oct. 1, a Senate aide said.
The development came after a chaotic day in which two House
plans failed and Fitch Ratings warned it could cut the sovereign
credit rating of the United States from AAA.
WASHINGTON (Reuters) – Efforts by lawmakers to stop a U.S. debt default were in disarray on Tuesday with just over a day before the government’s authority to borrow money lapses, risking the Treasury’s ability to pay bills and creditors.
Chaotic negotiations to end the U.S. fiscal impasse failed to produce a deal, and left Congress and President Barack Obama desperately searching for a way to reopen the government and raise the country’s debt limit ahead of a Thursday deadline.
WASHINGTON, Oct 15 (Reuters) – Republicans in the U.S. House
of Representatives failed to reach internal consensus on Tuesday
on how to break an impasse on the federal budget that could soon
result in an economically damaging default on the country’s
House Republican leaders proposed a plan to reopen the
government and avoid debt default but it was rejected in a
meeting with rank and file lawmakers. The plan differed in a few
important details from one in the U.S. Senate.
WASHINGTON (Reuters) – A month of combat in the U.S. Congress over government spending showed signs on Monday of giving way to a Senate deal to reopen shuttered federal agencies and prevent an economically damaging default on federal debt.
Senate Majority Leader Harry Reid, a Democrat, and his Republican counterpart, Mitch McConnell, ended a day of constant talks with optimistic proclamations, as details leaked out of the pact they were negotiating.
WASHINGTON (Reuters) – U.S. senators said they were closing in on a deal Monday that would reopen the government and push back a possible default for several months, though many hurdles remained as a Thursday deadline drew near.
The Senate’s top Democrat and top Republican both said they hoped they could soon reach an agreement that would allow them to avert a looming default and end a partial government shutdown that has dragged on for 14 days so far.
WASHINGTON (Reuters) – Congressional negotiations to end a U.S. fiscal crisis gripping Washington and spooking financial markets hung by a thread on Saturday after bipartisan talks broke down in the House of Representatives and shifted to Senate leaders.
Senate Majority Leader Harry Reid, a Democrat, held an initial session with Senate Republican leader Mitch McConnell. But uncertainty remained about their ability to reach an agreement quickly to end a partial government shutdown and increase the nation’s borrowing authority.
WASHINGTON, Oct 12 (Reuters) – Hopes for a resolution of
Washington’s fiscal crisis in the next day or two faded on
Capitol Hill on Saturday, as President Barack Obama’s efforts to
reach a deal with Republicans in the House of Representatives
The focus has now shifted to Senate Republicans’ ideas for
reopening the government and raising the government’s borrowing
authority, which runs out on Oct. 17.