United States Senate Fiscal Deal Close

United States Senate Fiscal Deal Close

According to Reuters, The United States Senate is close to agreeing a fiscal deal.

This news is reported to have been delivered by lawmakers, who claimed to be nearing a deal. However, a number of details are still due to be worked through, as negotiations over legislation rages on.

Both Democratic and Republican leaders are attempting to strike an agreement to extend the government’s federal debt limit, until Feb. 7, thereby swiftly resuming activity of a number of federal agencies that were closed, following the Oct. 1 shutdown.

Meanwhile, the U.S. credit rating agency, Fitch, is currently assessing the country’s triple A credit rating. The fear is that Fitch will downgrade America’s rating, as a consequence of the latest budget siege.

The United States is currently in the fifteenth day of the shutdown. On Oct. 17, the government is set to lose the capacity to borrow money, and could start defaulting on its debts shortly thereafter. Congress, meanwhile, continues to race against this deadline.

By: James Fenner

Reuters

Yahoo! News

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