House Republicans Throw Cold Water on Expected Senate Deal
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Stocks are weaker Tuesday after House Republicans crushed hopes that an expected Senate deal would have a good chance of passing both chambers. With a potential Senate deal just moments away, Speaker of the House John Boehner said the Republican House will take up their own plan.
The Dow is down 44, the Nasdaq down 1 and the S&P 500 is down 4.
The Senate deal is expected to include: (1) a continuing resolution which would reopen the federal government through mid-January; (2) an extension of the debt ceiling to at least early February; and (3) the inclusion of a mechanism for expedited consideration of a budget resolution through a conference committee.
Meanwhile, the expected House bill includes the same time-frame for reopening the federal government and extending the debt ceiling, but adds Vitter language that seeks to eliminate health care benefits for congressional staff and lawmakers and includes a two-year medical device tax repeal.
The Dow is down 44, the Nasdaq down 1 and the S&P 500 is down 4.
The Senate deal is expected to include: (1) a continuing resolution which would reopen the federal government through mid-January; (2) an extension of the debt ceiling to at least early February; and (3) the inclusion of a mechanism for expedited consideration of a budget resolution through a conference committee.
Meanwhile, the expected House bill includes the same time-frame for reopening the federal government and extending the debt ceiling, but adds Vitter language that seeks to eliminate health care benefits for congressional staff and lawmakers and includes a two-year medical device tax repeal.
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