–House Majority Leader: Expects House To Pass FY’11 Bill Thursday
–Rep. Cantor: Sees Friday House Vote On FY’12 Budget Resolution
–Rep. Cantor: Need Spending Controls On Debt Hike Bill
–Senate Majority Leader Reid: Hopes Senate Can Pass FY’11 Bill Thursday

By John Shaw

WASHINGTON (MNI) – House Majority Leader Eric Cantor said Tuesday
that House Republicans will insist on linking debt ceiling legislation
later this summer to “guarantees” that limit the growth of future
spending.

At a briefing, Cantor said Republican leaders are “already engaged”
in talks regarding debt ceiling legislation, adding that he views the
deadline as July rather than the May 16 date that Treasury described as
the earliest date that the debt ceiling may be reached.

Cantor said it would be “irresponsible” for Congress to increase
the debt ceiling unless “real reforms” on spending policy are placed on
the bill.

Cantor said it’s important to link the debt ceiling increase to
putting “guarantees in place that the spending doesn’t get out of
control.”

Congress should not “blindly rise” the debt ceiling, he said.

In other fiscal matters, Cantor said he expects the House to pass
the final fiscal year 2011 spending bill on Thursday and then pass the
GOP’s FY’12 budget resolution Friday.

“We’ll pass the (FY’11) bill Thursday with strong Republican
support,” he said, adding that he welcomes Democratic votes on the plan.

Cantor said the FY’11 spending bill with $38 billion in cuts was
“the best deal we could have gotten” with the administration on the
budget.

Cantor said that he expects President Obama to “embrace” the thrust
of the Simpson-Bowles report in his major budget speech Wednesday.

Finally, Cantor repeated his support for a one year tax holiday for
businesses. Cantor is a long-time supporter of repatriation
legislation.

Cantor also repeated his call for an aggressive effort for “broad
based tax reform” that would spur growth in the economy.

Speaking at a separate briefing, Senate Majority Leader Harry Reid
said he is working “very hard” to get the Senate to vote on the final
FY’11 spending bill Thursday.

** Market News International Washington Bureau: (202) 371-2121 **

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