debt deal

(Reuters) – Congressional leaders rushed to line up Republican and Democratic votes on Monday for a White House-backed dealto raise the U.S. borrowing limit and avert an unprecedented debt default. With scars still fresh from the months-long debate over increasing the $14.3 trillion debt ceiling, a new battle was shaping over the incendiary topic of taxes. Votes were expected later in the day in the House of Representatives and Senate on a plan to cut at least $2.4 trillion over 10 years, form a new congressional committee to recommend a deficit-reduction package by late November, and raise the borrowing limit … Read more