One Step Closer

Majority Leader Senator Harry Reid said he is hopeful in forming a resolution by the time leadership meets with President Obama at the White House today at 3pm. Reid met with Senate Minority leader Mitch McConnell on a plan to avoid default that would happen on Thursday. Senator Corker also said he is a lot more optimistic today than he was yesterday, and it seems like the Senate is finally forming a resolution. The plan would temporarily fund the government and lift the debt ceiling. Senator Manchin said the proposal would, “set up House-Senate negotiations on a budget for fiscal year 2014, and delay for two years a tax on medical devices imposed under Obama’s signature health care reforms.” There is already opposition from Conservatives, however, as part of the proposal includes the elimination of sequestration cuts. This resolution would be temporary, and allow both chambers time to address long term solutions to the current debt crisis.