ZitatWASHINGTON (MarketWatch) — Automatic federal budget cuts of $85 billion looked certain to kick in after a pair of bills to replace them failed in the Senate on Thursday.
Neither a Democratic nor a Republican bill aimed at replacing the so-called sequester was able to get enough support to win a test vote on Thursday. While senators from both parties hadn’t expected passage, the bills represented a last-ditch legislative effort to replace the across-the-board cuts to domestic and military spending.
The Republican bill, which would have given Obama the opportunity to pick which cuts he’d like, garnered just 38 “yes” votes; the Democratic bill, which would have replaced the cuts with alternative spending cuts and tax hikes on the wealthy, received 51 “yes” votes; 60 votes were needed to cut off debate.
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Thu Feb 28, 2013 4:57 pm
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