By Vicki Needham - 10/14/13 10:34 PM EDT
Treasury Secretary Jack Lew has warned Congress that the nation's coffers will drop to $30 billion in cash by Oct. 17, and could be in danger of being unable to pay all its bill beyond that point.
In addition to opening the government and raising the debt ceiling, the deal between Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.) would create the all-elusive House-Senate budget committee to come up with a replacement for automatic sequestration cuts.
That group would have to report back to Congress by Dec. 13.
Democrats are also considering including language to require income verification for people applying for subsidies through healthcare insurance exchanges set up under the Affordable Care Act.
We'll see what Tuesday brings.
WHAT ELSE WE'RE WATCHING
Debt ceiling talk: House Financial Services Committee ranking member Maxine Waters (D-Calif.) will chat on Tuesday with an impressive group of financial industry representatives about the economic implications of breaching the $16.7 trillion debt ceiling.
Waters will gather the experts who have been out front of the debate, warning policymakers about the potentially devastating consequences of failing to raise the debt limit before Thursday.
They include Jim Chessen, of the American Bankers Association; Scott Talbott, of the Financial Services Roundtable; Rob Toomey, with the Securities Industry and Financial Markets Association; Marie Cavanaugh, of Standard & Poor’s; Mike Williams, with the American Securitization Forum; and a representative from the AFL-CIO.
WHAT YOU MIGHT HAVE MISSED
— Wall Street rebounds on meeting
— Panetta: Obama needs to engage
— Poll: Fewer than half of Republicans approve of party's budget strategy
— Dems decry midnight rule change
— IRS: No confidential tax info shared in ObamaCare discussions
— White House: Shutdown stifling US exports
— Brinksmanship in Washington doing economic damage
— Bowles, Simpson urge Washington to make a deal
— Economic confidence plummets
— Corker: Republicans are 'in a bad place’
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