US Congress reaches fiscal deal to end oil export ban

  16 December 2015    Read: 890
US Congress reaches fiscal deal to end oil export ban
Congressional leaders agreed on a fiscal plan that would avert a U.S. government shutdown and lift the 40-year-old ban on crude oil exports, House Speaker Paul Ryan told fellow Republicans during a closed-door meeting Tuesday night, Bloomberg reported.
Ryan said the House planned to vote Thursday on the $1.1 trillion government spending bill and a separate measure to revive a series of expired tax breaks, according to Representative John Kline of Minnesota. The measure would finance the government through September 2016.

“Ryan laid out a compelling case to support the deal,” which includes lifting the oil export ban, said Representative Reid Ribble of Wisconsin.

Republicans insist they won’t allow another government shutdown like the one in 2013 over an unsuccessful bid by party members to end funding for Obamacare. That shutdown cratered public opinion poll numbers for Republicans, who are particularly wary of a repeat as the 2016 election nears.

“We have the best technology, the best oil and over time we will drive out Russian oil, we will drive out Saudi, Iranian,” Republican Representative Joe Barton of Texas said in an interview.

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