Congressional leaders reach a debt deal to avoid painful sequestration cuts

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The top four congressional leaders of both parties are expected to meet with White House officials next week to discuss a two-year budget deal, a pair of sources confirmed Friday.. They’ll also need to raise the debt ceiling later this year to avoid defaulting, with the Treasury Department.

Congressional Leaders Progress On Debt, Spending – White House, US – Top leaders of both parties in Congress made better-than-expected progress Tuesday on two must-do items on the legislative agenda.

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While a final federal budget and spending package-if Congress. Because a final spending deal will likely include aspects of all three. House leaders' proposals would reduce public education funding. First.. rainy day fund led to painful cuts to the program-by $3.9 billion and $3.3 billion, respectively.

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U.S. Senators Warner and Kaine, members of the senate budget committee, joined eight of their colleagues to call on Congressional leadership and the President to reach a budget deal that responsibly invests in middle class families, veterans, national security, infrastructure, education and access to public lands.

Congressional budget leaders reached a debt deal Tuesday, hoping to avoid billions of dollars in automatic spending cuts while getting the 2014 fiscal year kicked off without political gridlock.

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