[NCL Members] Fwd: Breaking News!

Jeff Carter jeffcrtr at gmail.com
Mon Oct 26 14:00:06 EDT 2015


From CEF. Budget deal may be close... 

Jeff

Begin forwarded message:

> From: Joel Packer <jpacker at cef.org>
> Date: October 26, 2015 at 1:37:31 PM EDT
> To: Joel Packer <jpacker at cef.org>
> Subject: Breaking News!
> 
> According to The Hill, CNN and CQ, a combined debt ceiling/budget deal is close to being finalized by the White House and Congressional leaders. I am trying to get more details. If anyone else gets more details. Please share.
>  
> Combined Budget-Debt Ceiling Deal Nears (CQ)
> Congressional leaders and the White House are attempting to wrap up a budget deal in the next day or so in time to pass it in conjunction with a debt limit increase. The two-year agreement is expected to be filed as soon as tonight.
> 
> While few details are available, the budget agreement is expected to lift discretionary spending caps for defense and nondefense programs in fiscal 2016 and possibly fiscal 2017, offsetting at least a portion of the increase through moves that could include selling off a portion of the Strategic Petroleum Reserve.
>  
> White House, GOP near two-year budget deal
> Senior White House officials and congressional leaders are nearing a deal to raise the debt limit and set the federal budget for the next two years, say sources familiar with the talks.
>  
> The agreement is not yet final, as negotiators still need to settle a dispute over controversial policy riders, but congressional leaders hope to announce something Monday evening, according to a Senate source. The deal would cover the 2016 and 2017 fiscal years.
>  
> White House budget director Shaun Donovan and legislative affairs director Katie Beirne Fallon are hammering out the package with staff representing Senate Majority Leader Mitch McConnell (R-Ky.), Speaker John Boehner (R-Ohio), Senate Democratic Leader Harry Reid (Nev.) and House Democratic Leader Nancy Pelosi (Calif.).
> House Ways and Means Chairman Paul Ryan (R-Wis.) is expected to be elected Speaker on Thursday, but he has not taken part in these budget negotiations, aides said. In recent weeks, Boehner has said he wants to "clean the barn up a little bit" before he leaves Congress at the end of the week.
>  
> Legislation to raise the debt ceiling and fund the government is central to the deal, but the talks are also said to include measures that would fund highway and infrastructure construction and renew the Export-Import Bank for one year. 
>  
> “Hopefully we’re able to announce something this evening,” said the Senate source, who added the length of the agreement has yet to be finalized.
>  
> The Treasury Department has set a Nov. 3 deadline for raising the nation's $18.1 trillion debt limit.
>  
> Lawmakers also face a Dec. 11 deadline to fund the government.
>  
> Members have been battling over how to fund the government and provide relief from a separate 2011 deal that created budget ceilings known as the sequester. Republicans have pushed to end the sequester for the Defense Department, but President Obama and Democrats want to get rid of the caps for both defense and nondefense spending.
>  
> Highway funding must be renewed by the end of the week. The House and Senate have been working toward a bill that would provide six years of funding.
>  
> Authority for the Export-Import Bank expired this summer, and supporters in the House have backed a discharge petition that would force a vote on renewing the bank's charter. Ex-Im has support from the U.S. Chamber of Commerce and other business groups, but many conservatives oppose it.
>  
> McConnell has opposed a vote on a stand-alone Ex-Im reauthorization, but it could be possible to renew the bank as part of this broader measure.
>  
> The deal is also likely to prevent the double-digit premium hikes that would hit 8 million Medicare enrollees in 2016.
>  
> Averting the 52 percent premium increases has been a priority for Pelosi and could help win Democratic support for the package.
> She began talks on the topic with Boehner in mid-September. Staving off the increases is expected to cost about $7.5 billion, and Democratic aides have said Pelosi's office was quietly negotiating with Boehner on the offsets.
>  
> House GOP appropriators said they are also hearing rumblings of the two-year budget deal. Top House Republicans were expected to discuss a possible spending package at their weekly leadership meeting Monday afternoon.
>  
> Sarah Ferris and Scott Wong contributed.
>  
> From CNN: Lawmakers closing in on budget deal
> (CNN)Bipartisan budget talks to avert a potential fiscal calamity picked up steam Monday, as leaders in both parties sought to cut an accord to avoid a debt default by early November.
>  
> Several sources familiar with the discussions said that the House was looking at moving a debt limit increase through the 2016 elections, taking the issue off the table for this Congress. As part of the fiscal package, lawmakers would consider a budget deal that would raise budget caps and include corresponding cuts to offset the higher spending, sources said.
>  
> The deal is not final yet, and could ultimately change. But the discussions are moving quickly since House Speaker John Boehner wants to wrap up the divisive fiscal issues before he hands the gavel on Thursday to Rep. Paul Ryan, R-Wisconsin, who is expected to win House leadership elections.
>  
> It's still uncertain whether the two sides -- particularly in the House -- could win over the rank-and-file and push the matter to final passage. But if House Minority Leader Nancy Pelosi agrees to back the package, and Boehner can deliver a large segment of his conference, it could be enough to overcome opposition from conservative factions. Two sources said Monday that Boehner and Pelosi were having "productive" discussions.
>  
> While details are still sketchy, the possible deal could give both sides cover. The White House has said that the debt limit should not have any corresponding budget cuts and should pass without restrictions in order to meet the November 3 deadline to avoid a possible default.
>  
> But if a budget deal moved at the same time, Republicans could point to the cuts Democrats agreed to in order to argue they were winning concessions from the White House. One source familiar with the discussions said that the two sides were looking at the possibility of a two-year budget deal, effectively decreasing the chances of a shutdown December 11.
>  
> Boehner was expected to discuss the matter with his leadership team later Monday afternoon.
>  
>  
> Joel Packer
> CEF Executive Director
> JPacker at cef.org
> 202-383-0083
> 202-255-0915 (cell)
> www.cef.org
> www.Twitter.com/edfunding 
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> 1341 G Street, NW
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>  
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