Republicans seek three-month debt increase: Boehner demands spending cuts before any ‘long-term’ increase

John Boehner, Eric CantorBy Robert Schroeder, MarketWatch

WASHINGTON (MarketWatch) — House Republicans next week will take up a bill to raise the U.S. debt ceiling for three months in an attempt to push the deadline to mid-April and force the Senate to pass a budget, Majority Leader Eric Cantor said Friday.

 

The U.S. is on track to run out of borrowing ability in mid-February or March, according to the Treasury Department, and a three-month bill if passed in the House and Senate would get the country safely past that time.

Senate Majority Leader Harry Reid, a Nevada Democrat, said his chamber will be happy to consider a “clean debt ceiling increase.”

White House press secretary Jay Carney echoed that remark, saying Congress should “pass a clean debt-limit increase without further delay.” He didn’t say if President Barack Obama would oppose a short-term increase…More



Categories: GOP News

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