WASHINGTON — The Republican-controlled House will vote next week to permit the government to borrow more money to meet its obligations, a move aimed at heading off a market-rattling confrontation with President Barack Obama over the debt limit.
Full details aren’t settled yet, but the measure would give the government about three more months of borrowing authority beyond a deadline expected to hit as early as mid-February, a Republican official said today.
The legislation wouldn’t require immediate spending cuts as earlier promised by GOP leaders like Speaker John Boehner of Ohio.
Instead, it’s aimed at forcing the Democratic-controlled Senate to join the House in debating the federal budget. It would try to do so by conditioning pay for members of Congress on passing a congressional budget measure.
“We are going to pursue strategies that will obligate the Senate to finally join the House in confronting the government’s spending problem,” Boehner told GOP lawmakers at a retreat in Williamburg, Va. “The principle is simple: `no budget, no pay.”’
The Senate hasn’t passed a budget since 2009, which has drawn lots of criticism from Republicans but protected Democrats controlling the chamber from politically difficult votes.