House Republicans are teeing up a vote this week on a new debt ceiling bill, marking the first legislative battle of President Obama’s second term and one that could determine whether the country once again risks default over a political fight.
House leaders, after unveiling the legislation Monday, are planning to hold a vote Wednesday on their plan to allow the government to keep borrowing through May 18.
While the short-term increase is getting mixed reviews, the second plank of the legislation — meant to pressure Senate Democrats to pass a budget — has also raised questions.
Under the proposal, Congress would withhold the pay of lawmakers in either the House or the Senate if their chamber fails to pass a budget by April 15. House Republicans have passed budgets for two consecutive years, but the Senate hasn’t passed one since Obama’s first year in office.Continue reading on www.foxnews.com