Negotiations to end the government shutdown and raise the debt limit continued into the night Thursday after House Republicans and President Obama failed to reach an agreement on ending the fiscal standoff during a White House meeting earlier in the day. The GOP favors a temporary increase in the debt ceiling through November 22nd but would require an agreement from Democrats to negotiate on a broader deal that could include tax and entitlement reforms. They could add in a provision to also reopen government but that is not clear yet. Meanwhile, a plan by Senator Susan Collins (R-ME) would do both and also repeal or delay the health care law’s medical device tax and give federal agencies flexibility to deal with the decade-long automatic spending cuts under sequestration during the next two years. In addition to that proposal, Senate Majority Leader Harry Reid (D-NV) will bring up a bill that would just raise the debt limit, possibly requiring vote on Saturday.
October 11, 2013