White House and congressional officials warned their staffs that they may be spending the holidays at their desks in Washington, as both sides publicly refused to budge from their positions on taxes and spending.
Lawmakers from both parties expressed renewed pessimism yesterday about the prospects of reaching a deal before more than $600 billion in tax increases and spending cuts start taking effect in January.
"There just has been very little progress made," Senator Dick Durbin of Illinois, the chamber's second-ranking Democrat and a close ally of President Barack Obama, said.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
