House GOP Unveils Bill to Counter Senate Debt Plan
House GOP leaders unveiled their own plan Tuesday to counter an emerging Senate deal to reopen the government and forestall an economy-rattling default on U.S. obligations.
Top Republicans unveiled a plan that would suspend a new tax on medical devices for two years and take away the federal government's contributions to lawmakers' and top administration officials in addition to funding the government through Jan. 15 and giving Treasury the ability to borrow normally through Feb. 7.
The move came as a partial shutdown entered its third week and less than two days before the Treasury Department says it will be unable to borrow and will rely on a this cash cushion to pay the country's bills.
Rep. Darrell Issa, R-Calif., said Republicans plan to pass the measure later Tuesday. It could prove tricky because Democrats probably won't support it. The House GOP plan wouldn't win nearly as many concessions from President Barack Obama as Republicans had sought but it would set up another battle with the White House early next year.
The House move comes after conservative lawmakers rebelled at the outlines of an emerging Senate plan by Majority Leader Harry Reid, D-Nev., and GOP leader Mitch McConnell of Kentucky. Those two hoped to seal an agreement on Tuesday, just two days before the Treasury Department says it will run out of borrowing capacity.
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http://abcnews.go.com/Politics/wireStory/hope-shutdown-deal-reid-mcconnell-optimistic-20569796
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