U.S. Senate defeats Democratic alternative to automatic spending cuts
WASHINGTON Feb 28 (Reuters) - The U.S. Senate on Thursday rejected a Democratic plan backed by President Barack Obama for replacing $85 billion in across-the-board government spending cuts that are set to begin within hours.
As expected, the Senate defeated the proposal that would have substituted the indiscriminate budget cuts with tax increases on the rich and the elimination of some farm subsidies for large corporations.
Republicans have vowed to block any new tax increases as part of deficit-reduction efforts.
Earlier, the Senate also defeated a Republican proposal to replace the across-the-board spending cuts.
With the defeat of the Democratic and Republican plans, the $85 billion in cuts that will hit most federal agencies are expected to begin at the end of the month.
- Atheists face death in 13 countries, global discrimination: study
- Missouri executes man for killing good Samaritan motorist in 1994
- Focus turns to Thai military, anti-government protesters tell them to pick sides |
- Google executives' planes saved millions in costs due to error - NASA
- Apple scores legal victory over Samsung in South Korea