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In the United States, the day is honored to commemorate the landing of Christopher Columbus in the New World on October 12, 1492. The day was honored for hundreds of years, but did not become a federal holiday until 1937 when President Franklin D. Roosevelt declared it so after a campaign by the Knights of Columbus. Columbus Day is also considered to be a day that Italian-Americans celebrate their heritage. In the 18th century, Italian and Catholic communities held parades and religious ceremonies in the explorer's honor. Although Columbus was not the first explorer to set foot in the Western Hemisphere, his landing at San Salvador Island in what is now the Bahamas was very important. It opened the way for the settlement of America by Europeans. It is probable that the first celebration honoring the event was held in 1792. Columbus Day became a legal holiday in the United States in 1892, 400 years after the famous voyage. It was then called Discovery Day. Many cities and organizations sponsor parades and banquets honoring the holiday.

House Republicans abruptly cancelled plans to take up a revised budget proposal Tuesday evening after leaders struggled to round up votes, leading Senate negotiators to resume bipartisan talks in hopes of reaching a deal before Thursday's debt ceiling deadline. House GOP leaders, after a closed door session, announced there would be no votes Tuesday night. With that decision, focus shifted back to the Senate and talks between Senate Democratic leader Harry Reid and his Republican counterpart, Sen. Mitch McConnell. A spokesman for Reid issued a statement late Tuesday saying, "Senator Reid and Senator McConnell have re-engaged in negotiations and are optimistic that an agreement is within reach."The emerging framework on the Senate side would raise the debt ceiling through February, and include a spending bill meant to last through Jan. 15. That version would not include any provision relating to the Obama Care medical device tax.