November 29, 2012 / 5:33 PM / 5 years ago

Year-end US fiscal deal must include debt limit hike - Reid

Senate Majority Leader Harry Reid pauses as he speaks to the media on Capitol Hill in Washington, November 14, 2012. REUTERS/Yuri Gripas

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

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