The White House sent House Speaker Nancy Pelosi, D-Calif., a proposed list of spending cuts it says can be used to seal a debt ceiling deal. Treasury Secretary Steven Mnuchin said, “We have reached an agreement between the administration, the House, and the Senate on top-line numbers for both year one and year two. We are now discussing offsets.”
Pelosi, however, rejected the deal and talks will continue this week.
Ag interests are focused on the situation as the remember the ag sector and the crop insurance sector in particular had to get Congress to backtrack on multibillion dollars in cut as part of a prior budget accord. And ag interests are monitoring the situation and are likely to be ready to rally support in the event ag cuts are a part of the mix.
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