ISSN 2330-717X

US Senate Rejects House-Proposed Budget-Cutting Plan

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US Senate lawmakers voted 51 to 46 on Friday to reject a conservative Republican-proposed bill aimed at slashing federal spending and raising the debt ceiling.

The “cut, cap and balance” bill passed earlier this week by the House of Representatives as an alternative to the Obama-backed legislation to raise the nation’s debt ceiling before it defaults on its loans on August 2nd.

The vote against the measure, which would have imposed strict caps on all future federal spending while making it significantly tougher to raise taxes, came shortly after House Speaker John Boehner told reporters he and President Barack Obama had failed to reach a separate agreement to resolve the debt crisis.

But Democrats and Republicans have been deadlocked over terms of a deficit-reduction package linked to the debt-limit increase, with Democrats demanding some tax increases and Republicans insisting on doing it just with spending cuts.

KUNA

KUNA

KUNA is the Kuwait News Agency

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