Congress May Compromise On Cuts, Avert Shutdown

Congress is slated to begin debate on legislation Tuesday that will keep the government funded for the next two weeks and cut spending by $4 billion.

The legislation is a compromise between House Republicans, who wanted $100 billion in cuts for the remainder of fiscal year 2011, and Senate Democrats, who balked at the Republicans’ initial proposal.

Currently the government is operating under a continuing resolution that keeps spending at 2010 levels. It is scheduled to expire after March 4^th without Congressional action.

If the compromise is approved, then both parties will spend the 14-day period crafting a more enduring plan.

In the 1990s the government shut down twice after President Bill Clinton vetoed spending proposals passed through the GOP controlled Congress.