House Republicans establish own plan to end shutdown and raise debt ceiling

FXstreet.com (Barcelona) - Tensions continue to run high in the US Congress where, according to the Associated Press reports, the House Republicans have put forward their own plan to end the government shutdown and raise the country´s debt ceiling.

In opposition to the plan established on the Senate side, the Republicans' bill includes postponing the medical device tax by two years and introducing an income verification for Obamacare beneficiaries, as well as the elimination of the Treasury´s extraordinary measures to avoid default. It also extends the debt ceiling until February 7, 2014 and allows to fund the government through January 15, which in turn is in line with the Senate's proposal.

According to Adam Buttton from Forex Live: “The Senate Democrats won’t like this attempt at an end-around but it’s not so far outside of what’s out there that it’s unworkable.”

Meanwhile, the Senate majority leader Harry Reid who spoke after the news was made known, still expressed confidence that a comprehensive fiscal agreement would be reached this week, and suggested that “productive negotiations are underway.”