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In a gesture underscoring the significance of the issue, Majority Leader Harry Reid, D-Nev,
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2011-07-19 14:48
Obama said late Monday the two sides were "making progress".
Barring action by Congress to raise the $14.3 trillion debt limit,
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The two-pronged approach pursued by the House GOP follows the collapse of a weeks-long effort to negotiate a sweeping bipartisan plan to cut into future deficits. The endeavor foundered when Obama demanded that tax increases on the wealthy and selected corporations be included alongside cuts in benefit programs,
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WASHINGTON - Courting confrontation and compromise alike, House Republicans shrugged off President Barack Obama's threat to veto legislation to cut federal spending by trillions of dollars on Monday while simultaneously negotiating with him over more modest steps to avert a potential government default.
In response, GOP lawmakers said they would go ahead with plans to pass the bill on Tuesday. "It's disappointing the White House would reject this commonsense plan to rein in the debt and deficits that are hurting job creation in America,
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The failure of that effort also reflects the outsized influence exerted by 87 first-term Republicans, many of them elected last fall with tea party backing.
The Republican bill demands deep spending reductions and congressional approval of a balanced budget amendment to the Constitution in exchange for raising the nation's debt limit. But Obama will veto it if it reaches his desk, the White House said,
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But the same senior Republicans emerged from a closed-door meeting of the rank and file on Friday to say the House would instead vote on an alternative - dubbed by its advocates as "Cut, Cap and Balance". No date has been set for a vote on the constitutional amendment itself.
By contrast, neither the administration nor congressional officials provided substantive details on an unannounced meeting that Obama held Sunday with the two top House Republican leaders, Boehner and Majority Leader Eric Cantor of Virginia.
As late as last Thursday,
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Several Republicans said privately the decision to vote on veto-threatened legislation is paradoxically designed to clear the way for a compromise. They said conservatives would have a chance to push their deep spending cuts through the House, and then see the measure quickly die either in the Democratic-controlled Senate or by veto.
Officials said the change in course had been requested by members of the Republican Study Committee,
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2010. [Photo/Agencies]
000 people are also expected to take part.
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