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Tuesday, Oct 15
Senate leaders near deal but will Congress pass it?
- Senate leaders could reportedly reach an agreement today to extend the U.S.'s borrowing authority until February 7, thereby averting a default for the time being, and funding the government until January 15, which would allow it to reopen.
- The "sequestration" spending cuts would stay in place, although government agencies would have more freedom to ease their effects. Congress would also have to hold budget talks by December 13.
- However, the deal seems to contain few of the demands of the Tea Party Republicans, including a repeal of the tax on medical devices. The question, therefore, is whether it will be able to pass in both chambers.