Shutdown: Dueling Plans - KTIV News 4 Sioux City IA: News, Weather and Sports

Shutdown: Dueling Plans


There may be some good news in the political fight over the debt ceiling and government shutdown.

Senate leaders and their counterparts in the House are closing in on two separate agreements.

"There have been no decisions about what exactly we will do although both sides of the aisle continue to try and make sure there is no issues of default and get our government re-opened," said House Speaker John Boehner.

Both the Senate and House proposals would end the shutdown and fund the government through January 15th and raise the debt ceiling until February 7th.

They would also require low-income people to verify their income in order to get subsidies under Obamacare.

"There are productive negotiations going on with the republican leader. I am confident we will be able to reach a comprehensive agreement this week, in time to avert a catastrophic default on the nation's bills," said Senate Majority Leader Harry Reid.

The House republican proposal would also eliminate special Obamacare protections for labor unions and replace it with a two year delay of the medical device tax which places new taxes on things like pacemakers and hearing aids.

"It's very, very important for us to stress in whatever proposal we move forward will reflect our position on fairness. No special treatment for anyone under the law," said republican Congressman Eric Cantor of Virginia.

As deals are being worked on time is running out.

The treasury department will hit its borrowing limit in two days.

Both deals are just temporary fixes but the senate plan does require a committee to hammer out a larger budget compromise by mid-December.

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