LINCOLN, Neb. (AP) – Congress and the White House have
apparently reached a compromise to raise the nation’s borrowing
limit.
President Barack Obama announced the deal in a White House press
conference Sunday evening. The President says the plan will cut $2
trillion in federal spending over the next ten years.
A report released to the Nebraska Tax Rate Review Committee this
month warned that the outcome of a debt ceiling standoff could have
a “significant impact” on Nebraska’s state revenues.
Elk Creek Sen. Lavon Heidemann, who chairs the Legislature’s
Appropriations Committee, says a sudden interest rate hike could
hit Nebraska businesses, which in turn could cut into the state’s
recently improved budget outlook.