Back to you, senators. House Republican efforts to pass legislation averting a Treasury default and ending a government shutdown collapsed tonight. Just hours after unveiling it, John Boehner and Republican leaders—apparently lacking votes from their own conservative rank-and-file—pulled the legislation. So now what? The Senate talks that were put on hold while Boehner floated his plan today have resumed, reports Politico. In fact, the story says Harry Reid and Mitch McConnell are close to a deal.
“Given tonight’s events, the leaders have decided to work toward a solution that would reopen the government and prevent default," says a McConnell spokesman. "They are optimistic an agreement can be reached." A Reid spokesman echoed the sentiment, reports the Hill. The debt-ceiling deadline is Thursday, and Fitch Ratings already has warned the US about a possible downgrade.