WASHINGTON (AP) — The Senate on Friday firmly rejected a House Republican bill to slash spending and require a balanced-budget amendment, leaving unresolved with just days to go the urgent issue of increasing the nation's borrowing powers.
The 51-46 Senate vote against the tea party-backed measure — which had been expected in the Democratic-run chamber — came shortly after House Speaker John Boehner told reporters he and President Barack Obama had failed to reach a separate agreement to resolve the debt crisis.
"There was no agreement, publicly, privately, never an agreement, and frankly not close to an agreement," Boehner said. "So I suggest it's going to be a hot weekend here in Washington, D.C."
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
