Budget deal is sealed

 

December 10, 2013, 07:00 pm

Budget deal is sealed

By Russell Berman, Erik Wasson and Mike Lillis

Rep. Paul Ryan (R-Wis.) and Sen. Patty Murray (D-Wash.) announced a budget deal Tuesday evening that would call for about $1 trillion in federal spending in 2014 while replacing some sequestration cuts.

The deal replaces $63 billion in sequester cuts over two years and trims an additional $23 billion in long-term deficits.

“This deal doesn’t solve all of our problems, but I think it is an important step to heal some of the wounds here in Congress,” Murray said in a joint press conference with Ryan at the Capitol.Ryan, the architect of House Republican budget proposals in recent years, called the agreement “a step in the right direction” and defended the deal as consistent with conservative principles. He noted that it reduced the deficit by $23 billion without raising taxes and said it was the first budget agreement with divided government in Washington since 1986. Continue reading “Budget deal is sealed”

U.S. budget deal nears amid conservative opposition

U.S. budget deal nears amid conservative opposition

By Richard Cowan and David Lawder 1 hour ago
Murray walks to a Senate Democratic caucus luncheon at the U.S. Capitol in Washington .
U.S. Senator Patty Murray (D-WA) (C) walks to a Senate Democratic caucus luncheon at the U.S. Capitol …

By Richard Cowan and David Lawder

WASHINGTON (Reuters) – Budget negotiators in the U.S. Congress on Tuesday were wrapping up a tentative deal on a budget plan to avoid a January 15 government shutdown, amid warnings from conservative groups that they would oppose it.

The plan does not purport to be any “grand bargain” that would slash the federal deficit.

It remains uncertain whether it will pass both houses of Congress. But if it does, it could put an end for the time being to dramatic budget standoffs that have rattled markets in the past, allowing lawmakers to write annual spending bills in a more orderly fashion. Congress has not enacted a budget bill since 2009. Continue reading “U.S. budget deal nears amid conservative opposition”

Weary budget negotiators near deal to avert standoff

The Seattle Times

Weary budget negotiators near deal to avert standoff

Senate Budget Committee Chairman Patty Murray, D-Wash., and House Budget Committee Chairman Paul Ryan, R-Wis., are nearing a budget deal that amounts to little more than a cease-fire.

By Lori Montgomery The Washington Post

  Sen. Patty Murray

Sen. Patty Murray

WASHINGTON — House and Senate negotiators were putting the finishing touches Sunday on what would be the first successful budget accord since 2011, when the battle over a soaring national debt first paralyzed Washington.

The deal expected to be sealed this week on Capitol Hill would not significantly reduce the debt, now $17.3 trillion and rising. It would not close corporate tax loopholes or reform expensive health-care and retirement programs. It would not even fully replace sharp spending cuts known as the sequester, the negotiators’ primary target.

After more than two years of constant crisis, the emerging agreement amounts to little more than a cease-fire. Republicans and Democrats are abandoning their debt-reduction goals, laying down arms and, for the moment, trying to avoid another economy-damaging standoff. Continue reading “Weary budget negotiators near deal to avert standoff”

Budget deal expected this week amounts to a cease-fire as sides move to avert a standoff

Budget deal expected this week amounts to a cease-fire as sides move to avert a standoff

By , Published: December 8

House and Senate negotiators were putting the finishing touches Sunday on what would be the first successful budget accord since 2011, when the battle over a soaring national debt first paralyzed Washington.

The deal expected to be sealed this week on Capitol Hill would not significantly reduce the debt, now $17.3 trillion and rising. It would not close corporate tax loopholes or reform expensive health-care and retirement programs. It would not even fully replace sharp spending cuts known as the sequester, the negotiators’ primary target.

After more than two years of constant crisis, the emerging agreement amounts to little more than a cease-fire. Republicans and Democrats are abandoning their debt-reduction goals, laying down arms and, for the moment, trying to avoid another economy-damaging standoff. Continue reading “Budget deal expected this week amounts to a cease-fire as sides move to avert a standoff”

Senator Tim Kaine Supports Federal Employees

“I strongly support the goal of a compromise on the budget that allows Congress to repeal or replace the across-the-board, nonsensical cuts due to sequestration. But I strongly believe we can achieve this goal without targeting federal employees who have already been impacted by multiple deficit reduction efforts in the past.”

Sen. Tim Kaine. Read more of his letter to Sen. Murray and Rep. Ryan here: http://bit.ly/1f2ieHr