The House of Representatives will not vote Thursday night on Speaker John Boehner's latest proposal to increase the debt ceiling and cut government spending, House Majority Whip Kevin McCarthy says.
The vote had been scheduled for 6 p.m. ET but was delayed as Boehner and Republican leaders met with individual members of their caucus who opposed the plan to try to get their support. Conservative Republicans in the House, many of them elected with tea party support, opposed the plan because they said it didn’t cut enough federal spending or contain a requirement to balance the federal budget.
Boehner's plan would have generated $917 billion in savings over the next decade, matching the raising of the debt ceiling with dollar-for-dollar spending cuts. But it would require another vote to further raise the ceiling before the 2012 elections, which Democrats oppose.
Senate Majority Leader Harry Reid has said he has enough votes t o table the measure in the Senate, effectively killing it. Reid has proposed a competing measure to raise the debt ceiling.
The federal government will hit its debt ceiling on Tuesday and without congressional action will be unable to meet some of its financial obligations.
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