U.S. House to consider 3-month debt limit extension next week - Rep. Cantor

WILLIAMSBURG, Virginia Fri Jan 18, 2013 11:41pm IST

Majority Leader Eric Cantor (R-VA) reacts to a question about CIA Director David Petraeus' scandal during a news conference on Capitol Hill in Washington November 14, 2012. REUTERS/Yuri Gripas/Files

Majority Leader Eric Cantor (R-VA) reacts to a question about CIA Director David Petraeus' scandal during a news conference on Capitol Hill in Washington November 14, 2012.

Credit: Reuters/Yuri Gripas/Files

Related Topics

WILLIAMSBURG, Virginia (Reuters) - The U.S. House of Representatives will consider a bill next week to extend the debt limit by three months in order to force the Senate to pass a budget, Republican House Majority Leader Eric Cantor said on Friday.

"Next week, we will authorize a three-month temporary debt limit increase to give the Senate and House time to pass a budget," Cantor said in an emailed statement.

"If the Senate or House fails to pass a budget in that time, members of Congress will not be paid by the American people for failing to do their job. No budget, no pay," he said on the last day of a House Republican retreat in Williamsburg.

(Reporting By Rachelle Younglai)

FILED UNDER:
  • Most Popular
  • Most Shared

Pending Reform

REUTERS SHOWCASE

Power Theft

Power Theft

India to invest $4 billion to tackle power theft  Full Article 

Debt Funds

Debt Funds

India monitors foreign flows into debt funds, may tighten rules  Full Article 

Bulgari Back in India

Bulgari Back in India

CEO: we shouldn’t have left India so we’re back  Full Article 

 Hindu "Modi-fication"

Hindu "Modi-fication"

Fears grow about Hindu "Modi-fication" of education  Full Article 

Weak Credit

Weak Credit

Hard to hit tax revenue target, credit weak - Jaitley  Full Article 

China Rate Cut

China Rate Cut

China surprises with interest rate cut to spur growth  Full Article 

Gold Imports

Gold Imports

RBI cautious on response to gold import surge  Full Article 

Economic Corridor

Economic Corridor

China commits $45.6 billion for economic corridor with Pakistan  Full Article 

Overseas Funds

Overseas Funds

RBI says overseas borrowed funds can be parked with banks in India  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage