WASHINGTON (AP) — The Senate on Friday firmly rejected a House Republican bill to slash spending and require a balanced-budget amendment, leaving unresolved with just days to go the urgent issue of increasing the nation's borrowing powers.

The 51-46 Senate vote against the tea party-backed measure — which had been expected in the Democratic-run chamber — came shortly after House Speaker John Boehner told reporters he and President Barack Obama had failed to reach a separate agreement to resolve the debt crisis.

"There was no agreement, publicly, privately, never an agreement, and frankly not close to an agreement," Boehner said. "So I suggest it's going to be a hot weekend here in Washington, D.C."

If progress is to be made over the weekend in the nation's steamy capital, it will have to be made behind closed doors and not in the open.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.