Congressional leaders reach a debt deal to avoid painful sequestration cuts

As we speak, Washington leaders are trying to work out a debt deal that will avoid the fiscal cliff and put America on a path to economic sustainability. While it may be hard to believe, it’s possible that a plan to avoid sequestration could actually be worse for science funding agencies than sequestration itself.

 · Congressional leaders have reached a tentative budget deal with the White House in a breakthrough that would set government funding levels for the next two years and extend the nation’s debt.

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These factors do not bode well for the passage of a deal to avoid sequestration in January 2020. White House officials and congressional leaders must not approach this matter with the nonchalance.

Such a proposal, among suggestions to a congressional. avoid painful automatic cuts, and is mandated to seek savings of up to $1.5 trillion. Those savings are on top of $917 billion in deficit.

Frustrated with his former colleagues in Congress. leaders in that chamber have instead said they’re awaiting the outcome of the debt talks. But Republicans said Democrats are trying to avoid.

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According to reports, President Donald Trump is receptive to a bipartisan deal to avoid the automatic spending cuts, known as sequestration, which would be triggered without a new fiscal deal. Politico reports that Democrats want to the link the budget cap negotiations with a debt ceiling increase, but Republicans do not want to handle the.

The Joint Select Committee on Deficit Reduction, colloquially referred to as the Supercommittee, was a joint select committee of the United States Congress, created by the Budget Control Act of 2011 on August 2, 2011. This act was intended to prevent the sovereign default that could have resulted from the 2011 United States debt-ceiling crisis.

This winter, with debt more than twice as high, marvels Cote, “President Trump and Congress agreed to. And the likely consumer pain might generate political pressure to undo at least some of the.

 · The president wanted to avoid hitting the debt limit and risking a federal default on its obligations. Republicans wanted to cut the deficit, yet also feared blame if the negotiations failed. White House and congressional leaders began a lengthy series of negotiations.

Congress scrambles to deal with debt ceiling Congressional budget leaders reached a debt deal Tuesday, hoping to avoid billions of dollars in automatic spending cuts while getting the 2014 fiscal year kicked off without political gridlock.