S&P 500
1878.61
+3.22 +0.17%
Dow Indu
16501.65
0.00 0.00%
Nasdaq
4147.12
+20.15 +0.49%
Crude Oil
101.87
-0.07 -0.07%
Gold
1292.980
+6.860 +0.53%
Euro
1.383375
+0.000985 +0.07%
US Dollar
79.763
-0.006 -0.01%
Strong

Market Commentary and Intraday News

'No budget, no pay' advances despite reservations

452 days ago

Free Technical Trading Strategy - The Breakout Box
Click Here For Immediate Access

By ANDREW TAYLOR
Associated Press

(AP:WASHINGTON) In an earlier era, the House Republicans' "no budget, no pay" proposal probably would have been dismissed as a gimmick.

Withholding pay from members of Congress until they pass a budget favors wealthy lawmakers who can afford to have their $174,000 salaries withheld.

It's unfair to those in the House and Senate minorities who have little say in whether a budget passes or not.

Also, it may be unconstitutional.

But with Congress' approval ratings in the gutter, House lawmakers breezed past those questions, among others, approved the idea and sent it to the Senate.

Despite bipartisan concerns in the Senate, the proposal is expected to pass in the coming week as it's attached to a must-pass measure to increase the government's borrowing cap.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

INO.com on Facebook INO.com MarketClub on Twitter INO.com on Google+ INO.com YouTube

© Copyright INO.com, Inc. All Rights Reserved.