U.S. House rejects Reid debt ceiling plan

U.S. House rejects Reid debt ceiling plan

The U.S. House of Representatives Saturday voted to reject the debt ceiling plan put forward by Democratic Senate leader Harry Reid, adding fresh uncertainty to the debt talk gridlock, Xinhua reported.

The vote was 173 to 246 on the measure that aimed at lifting the debt limit by 2.4 trillion dollars and cutting spending by 2.2 trillion dollars over a decade.The bill fell short of the two-thirds supermajority needed to pass under rules designed to limit debate and pass measures quickly.

In a similar move, 43 Republican Senators of the United States said Saturday that they opposed the Reid debt ceiling plan, saying that it failed to alter the spending trajectory that is putting the U.S. economy and national security at risk.

The federal government's borrowing limit, currently at 14.29 trillion dollars, was reached on May 16. The Treasury Department said the nation would begin to default on its debts unless the Congress agreed to lift the limit by Aug. 2.

The nation is at "a crucial time" in history, and the stakes of failing to find a compromise are quite high, Reid told reporters Saturday.The United States has no more time for delaying tactics, Reid said before heading for the White House to update the President on the status quo of the debt talks.

"We know that the Reid bill will not pass the Senate," Senate Republican leader Mitch McConnell Saturday told reporters at a press conference shortly after the House vote, adding that it was the time to end the "charade" and get serious on finding a compromise plan.

It is the time for the President to tell Americans what plan he is for, House Speaker John Boehner challenged Saturday at the press conference.

With time running short, Beltway policymakers were endeavoring to find a way to lift the nation out of the current mess during this weekend's frantic beat-the-clock effort to cut a deal.

Armenia violates ceasefire with Azerbaijan 23 times
Armenia violates ceasefire with Azerbaijan 23 times
Armenian PM infected with coronavirus
Armenian PM infected with coronavirus
Armenia violates ceasefire with Azerbaijan 23 times
Armenia violates ceasefire with Azerbaijan 23 times
Loading Bars
Latest
Georgia, Estonia discuss cooperation in field of transportation, tourism
Agriculture sector digitalization leads to significant money savings in Kazakhstan
Turkey's export of cars abroad from January through May 2020 slips
Airlines cut fares to help boost May traffic
Export of Turkey's export of ready-made clothes down compared to 2019
Georgia expects average cherry crop
Netherlands, Azerbaijan could create train connection
Azerbaijan developing new alternative energy project
Uzbek textile products in great demand on French market
Saudi, Russia reach deal on oil cuts, raising pressure for compliance
German bans digital doppelganger passport photos
Textile industry of Uzbekistan - fastest growing sector of country's economy
Quarantine regime to be strengthened in Kazakhstan’s Almaty city
Azerbaijani enterprise starts exporting canned goods to US
EU implements new projects to support vulnerable groups in Georgia
Payments of insurance claims by four Azerbaijani insurers decline
Export of Turkey's leather products to int'l markets down
Azerbaijani Azexport portal talks Facebook Shops integration
Kazakhstan's Samruk-Kazyna decreases its share in Kazatomprom
ADB continues to support Azerbaijan’s efforts to diversify its energy mix
Turkmenistan’s Turkmenhimiya opens tender to buy various equipment, spare vehicle parts
Turkey's export of wood, furniture abroad from January through May 2020 plummets
Coronavirus negatively affects almost all sectors of Georgian economy
Kazakhstan records decrease in money transfer volume
Oil, gas exploration work to be held throughout Turkey
Uzbek-Korean JV opens tender for procurement of pump repair kit
Hajj pilgrimage from Azerbaijan may not take place this year
Azerbaijan's Agricultural Insurance Fund talks managing company branding
Azerbaijan's pomegranate association aims to increase export volumes
BoE says advising banks to prepare for possible no-deal Brexit
16 insurance companies increase payment of insurance claims in Azerbaijan
Belgium to open bars and restaurants but not nightclubs
Azerbaijani president attends inauguration of Tartar branch of “Azerkhalcha” OJSC (PHOTO)
GNERC: Over 20% of business entities provided with internet services in Georgia
Cargo transshipment through Turkey's Antalya port disclosed
Turkey's export of grain, legumes to int'l markets marginally up
Exhibition of historical Baku photos opens on Baku boulevard (PHOTO)
Azerbaijani pomegranate association reveals new export targets
Turkey's export to D-8 countries down from Jan. through Apr. 2020
Turkmenistan’s Dashoguz region completing preparations for wheat harvesting
Sumgait Technologies Park talks export of aluminum to Central Asia
Cargo transshipment from Greece via Turkish ports disclosed
State share of Kafolat Insurance Company sold in Uzbekistan
Azerbaijan's Central Bank talks problematic insurance companies
Uzbek Ipak Yuli Bank, EBRD increasing their support to entrepreneurs of Uzbekistan
Uzbek-Korean JV buys sockets, switches via tender
Bank loans on rise in Azerbaijan
Turkey, US trade turnover suffers drop in April 2020
Azerbaijani president opens newly renovated highway (PHOTO)
Turkmenistan evaluates new varieties of cotton
Net revenue of Kazakhstan's KazMunayGas plummets in 1Q2020
Turkish ministry reveals cargo transshipment through local Hopa port
Azerbaijani president launches newly renovated 'Tartar' power substation (PHOTO)
Chamber of Commerce talks problems created by ministries' merger in Iran
Coronavirus body count in Iran surpasses 8,000
Kazakh uranium producing company opens tender for equipment repair
Uzbekneftegaz, LUKOIL to create joint venture to develop fields in Uzbekistan
Azerbaijani president attends opening of Tartar Olympic Sports Complex
Kazakhstan's oil & gas company to buy spare parts for piston pumps via tender
Uzbekistan supports local tourism sector
Demand for land plots in suburbs increases in Georgia
Oil tops $40 for 1st time since March on OPEC cuts, demand recovery
Azerbaijani president inaugurates State Symbols Museum in Tartar (PHOTO)
Germany to lift travel ban for EU, Schengen countries and UK from June 15
Turkish general directorate to implement several energy projects
Azerbaijani president arrives in Tartar district for visit (PHOTO)
Kazakh national currency against US dollar rate breaks three-month record
Data on cargo transshipment through Turkish Gulluk port revealed
Georgian peaches to appear on Russian shelves soon
WB: Georgia ranks 24th in world in terms of remittances
Nagif Hamzayev: Everyone must be mobilized against those who violate rules of quarantine regime
Gold price lowers in Azerbaijan on June 3
Azerbaijani Veyseloglu Group to launch digital transformation project
Kazakhstan's Kyzylorda to apply innovative rice growing technology
Uzbekistan reveals data on state budget revenues of 1Q2020
BP to have Operator Workbench on all its offshore platforms in Azerbaijan
Turkey-Ukraine trade turnover drops
Social payments increase in Azerbaijan
Azerbaijan accounted for 7% of BP liquids output worldwide
Kazakhstan-based subsidiary of Russian bank decides against paying dividends
India triples import of Kazakh-made products
Turkmenistan launches pilot program to support start-ups
OPEC+ deal will see higher prices but muted levels of demand
No sign of peak oil demand in decade to come
Uzbekistan to start production of Volkswagen cars
Azerbaijan's oil up in price
Turkmenistan Railways passes new rules regarding passenger transportation
Non-cash transactions in Kazakhstan up due to coronavirus-related restrictions
Turkey exempts Azerbaijani citizens from visa
Turkish electricity company moves forward with its business in Uzbekistan
Turkmenistan to intensify co-operation with Russia's KAMAZ company
Geostat reveals inflation rate in Georgia
Georgian fruit processing company exports products to Russia
Weekly review of Georgian capital market
Georgia reports new COVID-19 cases
Uzbekistan aims to improve its position in international ratings
Fish processing plant to be commissioned in Kazakhstan's Kyzylorda
Azerbaijani currency rates for June 3
Armenia violates ceasefire with Azerbaijan 23 times
India's coronavirus cases cross 200,000, peak still weeks away
All news