Senate to move first since thats where challenge lies
Texas Insider Report: WASHINGTON D.C. For all the attention it generated a few weeks past Congress still remains a long way from a vote on raising the $14.3 trillion Federal Debt Ceiling before July. Monday the U.S. Treasury Dept. gave lawmakers several more weeks but with no legislation yet drafted & the fact that a most senators will oppose raising the ceiling without significant deficit-cutting reforms included members have a lot of negotiating and legislating to do.
House GOP leadership with help from relevant committees is crafting a bill that would include:
- A debt-ceiling increase
- Spending cuts and
- Some form of budget-enforcement mechanism aides said.
Still tentative plans are forming.
Congressional aides said it is now more likely than not that the Senate will move first. That would allow the Senate to show it can pass a bipartisan bill that raises the ceiling and forces future deficit cuts and Senate aides hope doing so would put pressure on the House to take up the same bill.
Legally though the House should go first. The Senate will use a House-passed bill as a shell" and insert a new measure.
On Thursday the presidents new deficit-reduction work group will hold its first meeting. Chaired by Vice President Joe Biden and made up of GOP and Democratic congressional leaders the group is charged with producing a deficit-reduction plan by the end of June.
