Congress will joust over a symbolic vote on the U.S. debt limitthis week while a decision on whether to extend $3 trillion in taxcuts into 2013 probably will wait until after the Novemberelection.
Democrats and Republicans will debate Medicare cuts thatwouldn't take effect for years, though they are unlikely to resolvewhat to do about spending reductions set for next January. The onlymajor bill to clear Congress before the elections may be a plan toextend a payroll tax cut through the rest of 2012.
“We just have very different ideas on how to address theseissues,” House Budget Committee Chairman Paul Ryan, a WisconsinRepublican, said in an interview.
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