US Congress readies budget deal

WASHINGTON, DC, United States (Reuters) — Republican Paul Ryan, expected to become the next speaker of the US House of Representatives, threw his support on Wednesday behind a two-year budget deal aimed at averting a default on US government debt next week.

The support could provide a boost for the bill, which is set to reach the House floor for a vote Wednesday, even as far-right Republicans criticize it for increasing spending.

“What has been produced will go a long way toward relieving the uncertainty hanging over us, and that’s why I intend to support it,” Ryan, currently chairman of the Ways and Means Committee, said.

Ryan reluctantly decided to run for speaker and take over the chamber’s top post from John Boehner, who plans to retire from Congress on Friday. House Republicans will meet on Wednesday to consider his nomination, with the full chamber voting on Thursday.

“If I’m elected speaker, we will begin a conversation about how to approach these big issues – as a team – long before we reach these kinds of deadlines. We simply can’t keep doing business this way,” Ryan said of Congress’ penchant for going up against deadlines before passing major budget and tax measures.

Several members of a rebellious right wing of the party have said they will not support the budget deal, which is intended to extend the Treasury Department’s borrowing authority until March, 2017, and allow spending to rise beyond budget caps by $80 billion.

The US government is approaching a Nov. 3 deadline for lifting its debt limit, or face the risk of default.

The Republican party controls both chambers of Congress and Ryan’s endorsement could rally the votes of more moderate members of his party as well as some conservatives.

With the full support of Democrats anticipated and some votes from Republicans, the bill will probably pass, said Representative Jim Jordan of Ohio, a leader of the Freedom Caucus, the conservative faction of the party.

“Unfortunately it looks like they are going to get the vote mostly from Democrats,” he said on MSNBC television. “My guess is... there may be less than a majority of Republicans who will actually support this measure in the House today.”