House Plans Dec. 30 Session as U.S. Budget Deadline Nears
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The U.S. House will hold its first Sunday session in more than two years as lawmakers seek to resolve a budget impasse before at least $600 billion in spending cuts and tax increases begin Jan. 1.
In a conference call today with the Republican leadership, House members agreed to return Dec. 30 amid a budget stalemate that has each side blaming the other. Markets pared losses following the announcement of the House return, after the Standard & Poor’s 500 Index fell as much as 1.3 percent on mounting concern that no deal would be reached.