A new economic crisis?
The U.S. House of Representatives unexpectedly defeated a bill that would fund the federal government past September 30 on Wednesday as dozens of Republicans broke with their party to push for deeper spending cuts
Republican leaders said they would figure out a way to pass the spending bill and avoid disrupting everything from national parks to scientific research.
"There is not going to be a shutdown. Everybody needs to relax," said Representative Eric Cantor, the No. 2 House Republican, as he emerged from a meeting with other top Republicans after the vote.
Later in the evening, a panel approved a measure that would allow the House to quickly reschedule another vote. But it was not clear how the substance of the bill might be changed.
The bill would have funded the government at an annual rate of $1.043 trillion, in line with a bipartisan agreement reached in August. Many conservatives want to stick with the lower figure of $1.019 trillion that the House approved in April.
Click on the following for the rest of this Reuters story: http://www.reuters.com/article/2011/09/22/us-usa-congress-spending-idUSTRE78K78Z20110922
No comments:
Post a Comment