UPDATE: *LATOURETTE SAYS CANTOR WON'T SUPPORT BILL `IN CURRENT FORM'
It seems all is not going according to plan in D.C.. Perhaps it was the $4 Trillion deficit rampage the CBO just scored, or that the Republicans awoke from their slumber but as House meetings end, it appears Citi's worst case scenario is about to take place - the bill is going back to the Senate with spending cut amendments. As Politico notes, amending the bill would throw into serious flux the carefully negotiated agreement between Senate Minority leader Mitch McConnell and Vice President Joe Biden. While headlines noted the possibility, Rep Spencer Baucus (via Robert Costa) just confirmed the deal will "go back to the Senate."
- *BACHUS SAYS HOUSE REPUBLICANS 'THERE' ON TAX PROVISIONS
- *BACHUS SAYS HOUSE MAY SEND BILL BACK WITH SPENDING CUTS ADDED
One thing is clear, Politico adds: there is serious disdain among House Republicans for what the Senate did in the middle of the night. Retiring Rep. Steve LaTourette of Ohio asked House Republicans why the House would “heed the votes of sleep deprived octogenarians,” according to a source in the meeting.
Breaking: Leaving mtg, Rep. Spencer Bachus says deal will "go back to the Senate."
— Robert Costa (@robertcostaNRO) January 1, 2013
What is limit down in S&P 500 futures again?