Year-end US fiscal deal must include debt limit hike - Reid
WASHINGTON (Reuters) - An increase in the U.S. debt limit must be part of any deal to resolve the looming "fiscal cliff" of year-end tax hikes and spending cuts, Senate Majority Leader Harry Reid said on Thursday.
Reid, a Democrat from Nevada, told reporters after meeting with U.S. Treasury Secretary Timothy Geithner that President Barack Obama won't sign any agreement that does not contain a debt limit hike. The Treasury is expected to reach its statutory borrowing limit around year-end, but could avoid default through emergency cash-management measures for several more weeks.
(Editing by Sandra Maler)
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- India says Pakistan border clashes "extremely serious and provocative"
- California lawmakers end session with bills on plastic bags, gun control
- EU says could send over 1 bln euros more aid to Ukraine
- Alibaba aims to launch share sale in early September-source
A day after the best economic growth figures in more than two years greeted Prime Minister Narendra Modi's first three months in office, the finance minister on Saturday predicted faster growth to come. Full Article
Exclusive: Reliance plans $13 billion projects including new refinery. Full Article