- Sputnik International
World
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

Boehner Confirms Budget Deal Reached to Lift Debt Ceiling, Fund Government

© AP Photo / J. Scott ApplewhiteJohn Boehner of Ohio meets with reporters on Capitol Hill in Washington, Thursday, Dec. 4, 2014
John Boehner of Ohio meets with reporters on Capitol Hill in Washington, Thursday, Dec. 4, 2014 - Sputnik International
Subscribe
US congressional leaders and the White House came to an agreement that would continue the funding of the government and extend the federal debt limit.

Moody's - Sputnik International
Failure to Lift US Debt Ceiling Unlikely to Result in Default - Moody’s
WASHINGTON (Sputnik) — The White House and Congress reached a budget deal ensuring the US debt ceiling will be lifted and the work of the government will be funded for the next two years, US House Speaker John Boehner said on Tuesday.

"We have a bipartisan agreement that makes sure that the debt ceiling is increased, that we make good on our debt and our debt service, and it paves the way to fund the government this year and next," Boehner stated.

Earlier on Tuesday, media reported US congressional leaders and the White House came to a preliminary agreement that would continue the funding of the US government and extend the federal debt limit.

"And the fact is that this will make it easier for the entire Congress for the balance of this year, and it will make next year a whole lot smoother for the Congress as well," Boehner said.

Boehner noted the chances that a problem would prevent the deal from being implemented are zero.

"It’s going to pass with a bipartisan majority, and I’ll be really happy," Boehner concluded.

The agreement, which must be approved by the House of Representatives and the Senate, will provide $80 billion in sequester relief for two years, to be equally divided between military and other public expenditure.

The White House had urged Congress earlier to update the 2016 budget by using the "dollar for dollar" principle through which military expenditures could not be increased without increasing funds for other relevant areas.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала