US avoids debt default as Congress passes two-year fiscal plan
The agreement likely frees Obama of protracted fiscal battles with congressional Republicans for the rest of his term. It also means House Speaker Paul Ryan, a Wisconsin Republican, won’t have to deal with a fight that helped drive his predecessor from office.
“This agreement isn’t perfect,” Senate Majority Leader Mitch McConnell, a Kentucky Republican, said Thursday on the Senate floor. “But here’s the bottom line: This is a fully offset agreement that rejects tax hikes, secures long-term savings through entitlement reforms, and provides increased support for our military.” Read more.
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