Debt Compromise Set for U.S. Vote

Senate expect to vote today to ratify debt-limit compromise.

Congressional leaders voiced confidence that the Senate will vote today to ratify a U.S. debt-limit compromise that will avert a default even as it defers decisions on the nation’s finances to a bipartisan panel and may only modestly reduce deficits while slowing economic growth.

The House voted 269-161 yesterday to approve the measure, which raises the national debt ceiling enough to fund the government until 2013 and threatens automatic spending cuts to enforce a goal of cutting $2.4 trillion over the next decade.

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Comments

Advertisement. Closing in 15 seconds.