Congressional leaders reach a debt deal to avoid painful sequestration cuts

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Collins, King Call on President and Congress to Reach Agreement to Avert Sequestration, Reduce Debt WASHINGTON, D.C . — In a letter sent to President Barack Obama yesterday, Senators Susan Collins and Angus King call on the President to convene a meeting with Congressional leaders that must conclude with an agreement to avert sequestration and.

White House, congressional leaders reach budget, debt ceiling deal The deal, which was being negotiated by Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi, was finalized Monday.

Seven members of Colorado’s congressional delegation urged the leaders of the U.S. House of Representatives and U.S. Senate to actively work on passing a comprehensive, balanced deficit reduction package to avoid the blunt automatic spending cuts – known as sequestration – established by the Budget Control Act of 2011.

 · Washington D.C. – Today, as Congressional leaders and White House officials race to pass legislation to avoid a default on the national debt, the First Focus Campaign for Children reacts to the bipartisan compromise reached last night, specifying what the deal means for America’s children.

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Obama’s position is that Congress should now act to avoid those across-the-board cuts. Obama can’t rightly say the sequester isn’t his, but he did need cooperation from Congress to get to.

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Senators are set to vote as early as Wednesday on a budget caps bill that would avoid billions in spending cuts, but to many lawmakers, that’s not the most important part of the deal. The bill ( H.R. 3877 ) would indefinitely end the threat of sequestration by raising spending caps through fiscal 2021, the final year they’re in effect.

However, Obama would be able to request only up to $1.2 trillion in additional debt ceiling if the special congressional committee fails to agree to at least $1.2 trillion in cuts.

Congressional leaders make progress on debt, spending talks. the fifth two-year budget agreement since a 2011 budget and debt bill set the stage for much-reviled automatic cuts known as sequestration. Without an agreement, the automatic cuts would total 5 billion.. "Conversations.

Congressional budget leaders reached a debt deal, hoping to avoid billions of dollars in automatic spending cuts while getting the 2014 fiscal year kicked off without political gridlock over how.