Senate Reaches Fiscal Deal: What Next?

Republican and Democrat leaders of the US Senate have struck a cross-party deal to end a partial government shutdown and raise the US debt limit.

Their bill must also pass the House, where a small group of Republicans are expected to join Democrats to send the bill to President Barack Obama.

The bill extends the federal borrowing limit until 7 February and funds the government to 15 January.

It comes just a day before the deadline to raise the $16.7tn (£10.5tn) limit.

On the floor of the US Senate, Democratic leader Harry Reid called the legislation “historic”, saying it would provide time for Congress to work toward a long-term budget agreement.

 

Source: BBC

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News Talk Florida Staff