Congressional leaders reach a debt deal to avoid painful sequestration cuts

 · Congressional Leaders Negotiating to Avoid Massive FY20 Spending Cuts and Debt Default Michael Wallace , 202.626.3025 The White House and congressional leaders have opened budget discussions for Fiscal Year 2020 (FY20).

President Obama says shutdown would hurt economy and government workers Congressional budget leaders reached a debt deal, hoping to avoid billions of dollars in automatic spending cuts while getting the 2014 fiscal year kicked off without political gridlock over how.

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The idea of sequestration was that the cuts would be so painful it would force the parties to reach. cliff" deal last month, and this debt agreement should involve spending cuts only. Aides said.

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Congressional leaders and the Trump administration left a critical. agreement to avoid breaching the debt ceiling and blunt budget cuts from the sequester in the fall.. “We are taking sequester off the table.. Though Senate and House leaders have been seeking a broader, two-year spending deal.

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WASHINGTON (AP) – Top leaders of both parties in Congress made better-than-expected progress Tuesday on two must-do items on the legislative agenda: averting automatic budget cuts and meeting a.

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Cantor’s remarks come a day after Obama invited congressional leaders to meet at the White House on. of Obama’s handling of the economy, and failing to reach a debt-reduction deal could make the.

STOP SEQUESTRATION OF INDIAN HEALTH DOLLARS! The Budget Control Act of 2011, outlines specific "caps" on federal spending between FYs 2013-2021. If Congress fails to reach a deal on appropriations, automatic-across the board sequestration cuts will occur. In FY 2013, the indian health service lost $220 million from its budget due to sequestration.

3 days ago. But Mnuchin, in a letter last week to congressional leadership, said the deadline. spending caps and avoid deep across-the-board cuts known as sequestration.. A Democratic aide added that they thought a deal could be reached, “maybe as soon as this week.”.. Sad News Confirmed For Tiger Woods.

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Republican leaders in Congress and a senior White House official expressed optimism sunday that they can reach a deal to avoid adding a painful government shutdown this month to the deep budget cuts.

The new debt ceiling deadline also moves up the time frame for getting a deal to raise the defense and nondefense spending caps and avoid deep across-the-board cuts known as sequestration. That.