According to US Republican Senators, President Barack Obama had been opened to changes on tax levied on medical devices in the future. This was after discussions had progressed on ending the US partial shutdown and raising the debt cap of the country. US lawmakers and the White House would be reaching a final resolution regarding the budget issue, the report said. If not, the United States could default on its debt that would bedue on October 17, said a Bloomberg report.
According to Senator Orrin Hatch of Utah, the President did not rule out repealing the tax which was included in Obamacare or the Patient Protection and Affordable Care Act. Senator John McCain of Arizona said the President had been encouraged by the Senate Republicans' efforts to pursue a debt limit plan. Obama had insisted that any changes imposed on the health law before the deadlock last October 1 would be raised, according to US senators.
The S&P's 500 Index had increased to 1700.57 as of 1:58 p.m. in New York. This erased the losses incurred since the beginning of the US partial shutdown. Debt rates that were due on November 29 increased by five basis points to 0,05% to 0.17% as of 2:42 p.m. in New York. This was according to Bloomberg Bond Trader prices.
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