House Republican leaders said the U.S. Senate needs to act first on legislation to avert the fiscal cliff, Politico reports, “hinting they would not bring the House back into session until Senate Majority Leader Harry Reid (D-NV) moves something through his chamber.”
Washington Post: “The move comes just days after these same GOP leaders failed to secure the Republican votes for Boehner’s ‘Plan B’, which would have extended the expiring tax cuts on all income up to $1 million and modified the pending across-the-board cuts to agency budgets by sparing the Pentagon. The statement did not include any guidance as to what measures the House could accept and did not indicate when Boehner would call the House back into session.”
Meanwhile, the Wall Street Journal reports the Treasury said the government “would hit its legal borrowing limit by
Monday, setting in motion emergency measures to keep the government
operating for several more weeks.”
