Posts Tagged ‘Democratic Party (United States)’

Sen Schumer believes Currency Bill to pass overwhelmingly next week before reaching President

Posted: September 30, 2011 in Asian Currency Markets, US Economy
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Schumer says believes currency bill will reach Obama

WASHINGTON (Reuters) – A top Democratic senator on Friday said he was confident the Senate would “overwhelmingly” pass a bill next week to crack down on China’s currency practices.

Senator Charles Schumer also told reporters he thought it would be difficult for Republican leaders in the House of Representatives to block the legislation, making it likely it would reach President Barack Obama’s desk.

http://www.fox43.com/news/politics/sns-rt-us-usa-china-currencytre78t3kw-20110930,0,899092.story

US Senate to move next week on China bill

Posted: September 27, 2011 in Asian Currency Markets
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WASHINGTON — The US Senate will move forward next week with a bill to punish China over its alleged currency manipulation, Democratic Majority Leader Harry Reid said Monday, predicting the legislation will pass.

“China trade is a jobs bill that’s been long, long overdue. It’s a bipartisan bill and I feel very comfortable we’re going to pass it,” Reid told reporters at a press conference, using shorthand for the proposal.

Reid said that “next week” the Democratic-led chamber will “start our work on trade matters” including the legislation on China’s currency, though it was unclear when the bill would come to a final vote.

Read More: http://bit.ly/qxzH9x

CNN: Senate expected to pass debt plan, end crisis Tuesday

Posted: August 2, 2011 in Iraqi Dinar/Politics
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Washington (CNN) – The U.S. Senate is scheduled to vote on a last-minute compromise plan Tuesday to raise the nation’s debt ceiling while imposing sweeping new spending cuts and narrowly averting an unprecedented national default.

Senators are set to vote on the plan about noon. Although the bill requires a supermajority of 60 votes to clear the 100-member chamber, it is expected to be easily approved.

The measure was approved by the House of Representatives on Monday by a 269-161 vote, overcoming opposition from unhappy liberal Democrats and tea party Republicans.

The measure needs to be signed into law by President Barack Obama before the end of the day. If the current $14.3 trillion debt limit is not increased by that point, Americans could face rapidly rising interest rates, a falling dollar and shakier financial markets, among other problems.

Read More: http://www.cnn.com/2011/POLITICS/08/02/debt.talks/index.html?iref=BN1&hpt=hp_t1