Monday, August 1, 2011

House Vote First Test Of Debt-Ceiling Bill

Michael A. Memoli

The first test of legislation to raise the nation's debt ceiling comes in the House, which plans to vote Monday evening on the plan agreed to by party leaders Sunday.
Senate Majority Leader Harry Reid said the Senate would work to take up the plan Monday as well, though that would be a challenge given traditional delaying tactics that may be employed.
Passage in either chamber is far from assured. SomeRepublicans are objecting to the possibility of steep cuts in defense spending, while others continue to oppose any debt-ceiling increase. Liberal Democrats think the so-called compromise was more like a cave-in. . . . . . . .

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