What’s in the Debt-Limit Deal?

Finally, an answer.

Senate Minority Leader Mitch McConnell (R-KY) arrives at the U.S. Capitol October 16, 2013 in Washington, DC.
National Journal
Brian Resnick
Add to Briefcase
Brian Resnick
Oct. 16, 2013, 1:40 p.m.

Here they are, the stip­u­la­tions of the le­gis­la­tion that will re­open the gov­ern­ment after 16 days of back-and-forth ef­forts that went nowhere, Re­pub­lic­an in­fight­ing, hy­per­bole, and al­co­hol.

Here’s what we know Re­pub­lic­an and Demo­crat­ic sen­at­ors have agreed to:

  • Re­open the gov­ern­ment, and fund it through Jan. 15.
  • Push back the debt ceil­ing un­til Feb. 7.
  • Con­vene a con­fer­ence com­mit­tee (led by Sen­ate Budge Com­mit­tee Chair­wo­man Patty Mur­ray, D-Wash., and House Budget Com­mit­tee Chair­man Paul Ry­an, R-Wis.) to shape a longer-term budget (does this sound fa­mil­i­ar?) that would ad­dress wheth­er se­quester-level spend­ing cuts will be here to stay.
  • In a small con­ces­sion — and the only change to the health care law — Demo­crats agreed to a meas­ure to en­sure those who re­ceive sub­sidies to buy health care meet eli­gib­il­ity re­quire­ments. White House spokes­per­son Jay Car­ney as­sures that this does not amount to “ransom” and main­tains the pres­id­ent’s line that he would not ne­go­ti­ate over the debt ceil­ing.
  • Give back pay to fed­er­al work­ers fur­loughed dur­ing the shut­down.

So how have things changed in the past 16 days?

  • The gov­ern­ment has wasted mil­lions of dol­lars pay­ing its work­ers for not work­ing. 
  • S&P es­tim­ates that the shut­down de­creased GDP growth by .6 per­cent, amount­ing to $24-bil­lion bite out of the eco­nomy.
  • It will now be slightly more dif­fi­cult to scam the gov­ern­ment for health care sub­sidies.
  • A ma­jor cred­it-eval­u­ation agency has threatened to down­grade the U.S. cred­it rat­ing.
  • The GOP’s fa­vor­ab­il­ity rat­ings plummeted to a re­cord low for any party.
  • Just 5 per­cent of Amer­ic­ans thought Con­gress was do­ing a good job.
  • The tea party is as un­pop­u­lar as ever.
  • Fur­loughed work­ers drank a bunch.
What We're Following See More »
TRUMP’S ATTORNEY WAS SET TO TESTIFY ON WEDNESDAY
Senate Intel Postpones Testimony by Cohen
1 days ago
THE LATEST
AMENDMENT WOULD HAVE PREVENTED CONSIDERATION
Senate Rejects Effort to Nix SALT Tax Changes
2 days ago
THE LATEST

"Senate Democrats on Thursday failed in their first attempt to save the state and local tax deduction, which helps many residents of California and other high-cost states reduce their federal income tax bills. The Republican-controlled Senate voted 52-47 to reject an amendment that would have prevented the Senate from considering any bill that repeals or limits the deduction as part of a planned tax overhaul."

Source:
INTERVIEWED BY COMMITTEE STAFF
Lewandowski Meets with Senate Intelligence Committee
2 days ago
THE LATEST

"President Donald Trump's former campaign manager Corey Lewandowski appeared on Capitol Hill for a closed-door interview with the Senate intelligence committee Wednesday, according to a source familiar with the matter. Lewandowski is the latest senior official in Trump's orbit who has met with the committee as part of its investigation into Russian election meddling and possible collusion with the Trump campaign."

Source:
FISHING EXPEDITION
Some Members Seek to Wrap Up Russia Investigations by Year’s End
3 days ago
THE LATEST

"A growing number of key Republicans are sending this message to the leaders of the congressional committees investigating potential Trump campaign collusion with the Russians: Wrap it up soon. In the House and Senate, several Republicans who sit on key committees are starting to grumble that the investigations have spanned the better part of the past nine months, contending that the Democratic push to extend the investigation well into next year could amount to a fishing expedition."

Source:
WROTE LAW THAT WEAKENED OPIOID OVERSIGHT
Trump: Marino Withdrawing Nomination for Drug Czar
4 days ago
THE LATEST
×
×

Welcome to National Journal!

You are currently accessing National Journal from IP access. Please login to access this feature. If you have any questions, please contact your Dedicated Advisor.

Login