WASHINGTON - The House plans to vote Wednesday on a Republican proposal to extend the government's debt ceiling for three months, with conservatives waging a last-minute effort to defeat the bill because it would not force spending cuts.
The proposal from Republican leaders would keep the $16.4 trillion ceiling intact but declare that it "shall not apply" until mid-May, or about three months after it would be passed by the Senate and signed into law.
The measure doesn't seek spending cuts that many conservatives are demanding, but it does have strings attached: House and Senate members would forgo paychecks if Congress doesn't approve a budget by April 15. That provision is designed to force the Democratic-controlled Senate to pass a budget, something it hasn't done in four years. Sponsors said they will still work to cut spending in other bills, and they stressed that they could always fall back on automatic spending cuts approved in 2011 but not yet implemented.
At the White House, press secretary Jay Carney said President Obama "would not stand in the way" of the short-term bill. The administration added that a long-term solution is still preferred.
"A temporary solution is not enough to remove the threat of default that the Republicans in the Congress have held over the economy," the Office of Management and Budget said in an administration statement of policy. "The Congress should commit to paying its bills and pass a long-term clean debt-limit increase that lifts an unnecessary uncertainty from the nation's economy."
House Republican leaders appeared confident that they would have sizable Republican support for the short-term measure, as they told the rank and file they would produce a budget that's balanced within a decade.
"Passing a short-term hike buys time for the House and Senate both to pass a budget," House Speaker John Boehner, R-Ohio, told House Republicans at a closed-door caucus.
He added that House Budget Committee Chairman Paul Ryan, R-Wis., a hero among the party's conservatives, would be "working with all of us to draft a budget by the April 15 deadline. With the right reforms in place, Paul's goal is to advance a budget that balances within a decade."