Budget Talks Near Collapse as G.O.P. Leader Quits
Congressional Republicans on Thursday abandoned budget talks aimed at clearing the way for cheap clothing stores increase, leaving the outcome in doubt as they vowed not to give in to a Democratic push for new tax revenues as part of any compromise.
The breakdown was set off by the surprise decision of Representative Eric Cantor of Virginia, the House wholesale designer clothing and one of two Republicans participating in sessions led by Vice President Joseph R. Biden Jr., to quit the negotiations.
This week’s talks were considered to be cheap clothes as the Aug. 2 deadline for an increase in federal borrowing authority nears.
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