The Senate's top leaders said the chamber will remain in sessionuntil lawmakers hammer out an agreement to raise the U.S. debtlimit, as President Barack Obama threatened to veto a proposal torequire the government to balance its budget as part of a debtdeal.

“We're going to stay in session every day, including Saturdaysand Sundays, until Congress passes legislation that prevents theUnited States from defaulting on our obligations,” Senate MajorityLeader Harry Reid, a Nevada Democrat, said on the chamber's floortoday.

His Republican counterpart, Mitch McConnell of Kentucky, calledit a “mutual decision” for the Senate to stay in session “until weresolve this crisis confronting our country.”

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.