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Friday, Oct 18, 2019

Taxes on the menu in US talks on debt-reduction

Top US lawmakers were expected to discuss on late Thursday one of the biggest hurdles in the way of a debt-reduction deal that would allow the US to continue borrowing at rock-bottom rates — taxes.

business Updated: Jun 09, 2011 21:47 IST

Reuters
Hindustantimes
         

Top US lawmakers were expected to discuss on late Thursday one of the biggest hurdles in the way of a debt-reduction deal that would allow the US to continue borrowing at rock-bottom rates — taxes.

As vice-president Joe Biden and six lawmakers met for a sixth round of talks, outside pressure is growing for them to reach an agreement that would let Congress raise the $14.3-trillion debt ceiling before an August 2 deadline. Though bond markets remain placid, investors are increasingly alarmed that Congress will fail to act before that date, when the treasury department has warned it will run out of money to pay the nation's bills.

"I really hope that they would stop playing with fire," Li Daokui, adviser , China's central bank, said on Wednesday.

First Published: Jun 09, 2011 21:45 IST

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