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House Fails To Vote On GOP Debt Limit Proposal
WASHINGTON (10/16/13)--House Republicans Tuesday canceled a planned Tuesday night vote on their revised budget proposal to reopen the government and temporarily raise the debt ceiling.

Postponing the vote on the plan, which had been unveiled earlier in the day, is an indication that Republicans do not have enough votes to pass the proposal, said MarketWatch and FoxNews.com (Oct. 15).

The canceled vote in the House brought the focus back to the Senate, whose leaders are negotiating a bipartisan plan. Tuesday night spokesmen for Senate Majority Leader Harry Reid (D-Nev.) and Minority Leader Mitch McConnell (R-Ky.) said their talks had resumed and they were optimistic that an agreement was within reach.

The Senate adjourned at 10:08 p.m. ET, with Reid and McConnell close to a deal on a Senate bill that, if passed, would then go to the Republican-led House of Representatives. The Senate was slated to reconvene at noon today.

The House Republicans' plan would have opened the government through Dec. 15 and extended the debt limit to Feb. 7. Reid and McConnell had discussed extending the debt limit for the same amount time, but would keep the government open until Jan. 15.

Meanwhile, Fitch Ratings Service put the U.S. credit rating on a negative watch. Treasury's deadline for raising the borrowing limit is Thursday.


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