–House Majority Leader: ‘I Hope This Is The Last Stop-Gap Bill’
–‘Hope And Intend This To Be The Last One’
–Wants To Work With Administration On Corporate Tax Cut
–Should Pass Three Pending Bilateral Trade Deals

By John Shaw

WASHINGTON (MNI) – House Majority Leader Eric Cantor Monday said
that Congress will take up a stop-gap spending bill for the 2011 fiscal
year this week that will fund the government until April 8, adding that
he hopes this is the last temporary spending bill.

“I hope this is the last stop-gap bill,” Cantor said at a briefing.

“We hope and intend this to be the last one … . We want to get
this thing done,” he added.

The stop-gap bill, largely drafted by House Republicans, will
include $6 billion in spending cuts. These cuts are expected to be
acceptable to congressional Democrats and the White House.

The House is expected to vote on the new stop-gap funding bill
Tuesday while the Senate will take up the measure later in the week.

The current stop-gap spending bill expires Friday.

The 2011 fiscal year began on Oct. 1 and the government has run on
five short-term funding bills. The new stop-gap would be the sixth
short-term spending measure.

Cantor said that Republicans are still waiting for the White House
and Senate Democrats to offer a credible spending cut proposal.

“We want to see some action,” Cantor said, adding that Republicans
want an “earnest discussion” with the administration on FY’11 spending
issues.

Vice President Joe Biden held one round of talks with key
congressional leaders two weeks ago on completing the FY’11 budget, but
he was overseas last week and the talks were largely on hold.

Biden’s talks have been with Senate Majority Leader Harry Reid,
Senate Minority Leader Mitch McConnell, House Speaker John Boehner and
House Minority Leader Nancy Pelosi.

Cantor said there are “ongoing” talks with the administration on
the FY11 budget.

On another matter, Cantor said Republicans want to work with the
administration on ideas to cut corporate taxes, adding that House Ways
and Means Committee Chairman Dave Camp is “very intent” in engaging
Democrats on a corporate tax reform effort.

Finally, Cantor said Republicans support passage of bilateral
American trade agreements with Colombia, Panama and South Korea.

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

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