The U.S. House of Representatives passed a $10.9 billion extension of U.S. transportation funding through May 2015, to avert cutbacks in August.» Read More
The U.S. House and Senate were "very close" to a deal on extending the payroll tax holiday and unemployment benefits when the Senate called off talks and went home, House Majority Leader Eric Cantor told CNBC Wednesday.
An extension of the payroll-tax cut was in serious jeopardy Tuesday as the House and Senate refused to negotiate a compromise that affects 160 million Americans.
Scheduled to vote today, the House of Representatives is contentiously debating a Republican proposal that rejects a two-month extension of the payroll tax cut and unemployment benefits.
Seeing the president and members of Congress in action gives a new perspective on the debt talks. Click for scenes from the talks, in the month leading up to the compromise.
The US is likely to see its debt downgraded by the credit rating agencies, despite the passage of a bill to raise the country's debt ceiling on Monday, analysts told CNBC.
Sen. Harry Reid (D-NV) provides an update on the debt deal talks in Congress.
Moody's declined to comment about how it would react to the government's tentative deal, but it referred back to its latest report it released on the U.S. debt debate.
If the rest of the country thinks that Washington has gone mad this summer, that is pretty much the view in this bewildered capital, too. The New York Times reports.
As America’s largest foreign creditor, China has little option but to hope for the best and try to calm jittery markets in the event of a downgrade of US debt by the ratings agencies according to economists at Capital Economics.
CNBC's Eamon Javers details what's likely to happen if the bill makes its way to the Senate.
Author Adam Mansbach said what every parent was thinking, "Hey, kids: 'Go the F— to Sleep.'" Now, one TV anchor is saying what most of America has been thinking: "Hey, Congress: 'Go the F— to Sleep!'"
When "the dollar is the reserve currency underpinning the system, waking up to discover that U.S. debt may not be AAA after all is surely a market event,” says an analyst at one European bank.
It is time for the House Republicans to face facts, say Sen. Harry Reid at this morning's press conference. It is time to get serious about compromise.
It's this quartet who will have to draw on their experience, skill and charm to find the deal and the votes to pass it for averting an unprecedented government default next week..
The big sticking points between the House GOP leadership and Sen. Harry Reid’s latest plan are 1) the House wants two debt increases, one this year and one next year (Reid has just one increase) and 2) the House Republicans want a guaranteed balanced-budget-amendment vote.
With a default deadline looming, House Republican leaders are giving the Tea Party what amounts to a symbolic floor vote on its "cut, cap and balance" debt-limit plan.
The White House says President Barack Obama is stepping directly into stalled debt talks, inviting Senate Majority Leader Harry Reid and Republican leader Mitch McConnell separately to discussions Monday.
Recent signs that the economic recovery is flagging have introduced a new tension into the bipartisan budget negotiations.
Not many things have emerged from the quagmire of US Congress recently which have produced a truly pleasant surprise. But could the troubled asset relief programme - better known as Tarp - turn out to be one?
What does the rise of libertarianism portend for the future of the US? This is not a question of interest to Americans alone. It matters almost as much to the rest of the world.