Congress Boosts Pay and Delays Key Bills After Thanksgiving
The Republican led Congress approved a $3,100 pay raise for members, bringing rank and file pay to about $165,200 annually, while delaying work on deficit reduction and tax bills to begin a two week recess. Leaders pledged to tackle tax cuts and spending limits when back in December as debates continue over Medicaid, food stamps and ANWR provisions.
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Congress approves higher borrowing for flood insurance
Congress and Senate vote to raise the National Flood Insurance Program borrowing cap to 18.5 billion per year after hurricane disaster claims. FEMA says payouts were halted as claims exceed available funds. House and Senate warn of potential legal actions if action stalls further support. The program covers about 4.5 million policyholders in over 20,000 communities, enforcing stricter codes to curb future flood losses.
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