–Senate Majority Leader Confirms Critical Test Votes On FY’11 Budget
–Sen. Reid: Blasts House GOP Plan For ‘Meat Axe Approach’ To Budget
–House Republicans Prepare Another Two Week Stop-Gap Spending Bill

By John Shaw

WASHINGTON (MNI) – Senate Majority Leader Harry Reid Wednesday said
the Senate will vote in the afternoon on the House Republican plan to
complete the fiscal year 2011 budget and the Senate Democratic
alternative.

Speaking on the Senate floor, Reid said the Senate will resume
debating the two bills at noon and then vote on the two plans at around
3 p.m. EST.

The House Republican plan funds government for the balance of FY’11
at about $61 billion below last year’s spending level, while the Senate
Democratic alternative cuts spending by about $6.5 billion below last
year’s level.

Senate leaders have set up a procedure in which 60 votes are
required for either bill to go forward.

Reid has said that he expects neither the House Republican plan nor
the Senate Democratic plan to secure the requisite 60 votes needed to
advance in the Senate.

Reid has said that after these votes in the Senate are held it may
jump-start bipartisan talks on completing the FY’11 budget.

In remarks on the Senate floor Wednesday, Reid continued to scorch
the House Republican plan as a “job killing, short-sighted bill.”

“This meat axe approach … is not good for the country,” he said.

Reid said the House GOP bill includes “mean-spirited” policy
riders.

Republicans have said the Democratic alternative does little to cut
spending.

Last week, Congress passed a two week stop-gap spending bill that
funds the federal government until March 18.

The 2011 fiscal year began on Oct. 1 and the government has run on
a series of short-term funding bills.

With no agreement on a final FY’11 plan in sight, House Republican
leaders have said that Congress next week may have to pass another two
week stop-gap spending bill that cuts an additional $4 billion from
spending as talks continue on a plan to complete the FY’11 budget.

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

[TOPICS: M$U$$$,MFU$$$,MCU$$$]