Reuters logo
Year-end US fiscal deal must include debt limit hike-Reid
November 29, 2012 / 5:45 PM / 5 years ago

Year-end US fiscal deal must include debt limit hike-Reid

WASHINGTON, Nov 29 (Reuters) - An increase in the U.S. debt limit must be part of any deal to resolve the looming “fiscal cliff” of year-end tax hikes and spending cuts, Senate Majority Leader Harry Reid said on Thursday.

Reid, a Democrat from Nevada, told reporters after meeting with U.S. Treasury Secretary Timothy Geithner that President Barack Obama won’t sign any agreement that does not contain a debt limit hike. The Treasury is expected to reach its statutory borrowing limit around year-end, but could avoid default through emergency cash-management measures for several more weeks.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below