The debt limit increase bill introduced by Speaker of the House John Boehner passed the House of Representatives, but was quickly rejected in the Senate.Reid is setting the stage for a 1 a.m. Sunday cloture vote on the bill, followed by a vote to pass it on Monday morning.
10:26pm | The Senate and House are in recess until 1 p.m. Saturday.
The House will likely vote down the Reid plan tomorrow after introducing an identical version to make a statement. Meanwhile the Senate will debate it, as Reid tries to wrangle votes behind his compromise proposal to reach 60 votes in an early-morning cloture vote on Sunday.
10:25pm | Reid was willing to compromise on Balanced Budget Amendment:
Reid was ready to agree to hold a vote on a balanced budget amendment (but not promise to pass it) as a way of drawing Republicans to his bill. He said he had no one to negotiate with.
10:15pm | McConnell pushes back.
McConnell’s office is denying that he told Reid he would not negotiate with him. Reid claimed otherwise on the Senate floor earlier .
10:05pm | The New Reid plan.
The new Reid plan adopts the McConnell proposal for raising the debt limit by delegating the authority to President Obama.
The CBO scored the bill at $2.4 trillion in cuts — meeting the GOP’s requirement for $1-for-$1 debt limit increase to spending cuts.
9:03pm | Reid says they Democrats want to negotiate but have “no one to negotiate with.”
Reid at Senate Democrats press conference: Republicans are blocking our ability to compromise. “It’s time for us to be adults.” They are forcing us to wait until 1 a.m. on Sunday.
Durbin: Republicans are insisting on a filibuster, they say “60 votes have become routine.”
Senate Democrats say that they have support from Republicans but they are waiting for the green light from McConnell.
Schumer: “The only game in town is the Reid bill.”
- Sen. Lindsey Graham (R-S.C.)
- Sen. Jim DeMint (R-S.C.)
- Sen. David Vitter (R-LA)
- Sen. Mike Lee (R-UT)
- Sen. Orrin Hatch (R-UT)
- Sen. Rand Paul (R-KY)
No moderate GOP votes.
8:28pm | McConnell and Reid debating on the Senate floor.
Minority Leader McConnell notes that it’s ironic the House will vote on Reid’s plan before the Senate.
Reid: “My door has been open all day. We are doing the right thing. We will not agree to a six-month extension.”
8:25pm | Senate kills Boehner’s plan.
The Senate tabled Boehner’s bill on a bipartisan 59-41 vote.
8:02pm | The Senate is now voting on the Boehner plan.
It is expected to fail.
8:01pm | The House has now sent over the Boehner bill allowing Reid to amend it.
This moves up the timetable on the final Senate vote on the Reid plan to Monday.
7:59pm | Confusion on the Senate floor:
McConnell: Let’s vote on the Reid debt plan tonight. Reid: Let’s hope House GOP is more timely in their Saturday vote on it.
Reid declined the GOP offer.
McConnell: “I’m perplexed that my friend the majority leader doesn’t want to have a vote on his own bill.”
Reid doesn’t want an immediate vote that will fail. He believes his proposal will attract GOP support as the August 2nd deadline nears.
7:42pm | GOP plays hardball.
By forcing a vote on the Reid compromise plan tomorrow, the House is setting the stage for a high-stakes showdown later this week, as Reid was counting on attracting GOP votes. Those votes are not expected to materialise tomorrow.
7:39pm | The House will try to show that the Reid plan cannot pass.
The House will vote on the Reid plan tomorrow, according to Cantor spokesman Brad Dayspring. The vote will likely fail without the support of any GOP Senators.
From Cantor’s office:
Members are advised that the House will be in session tomorrow, Saturday, July 30, as well as Sunday, July 31, as previously announced. The House will meet at noon on Saturday and 1:00 p.m. on Sunday for legislative business. First votes are expected at approximately 1:00 p.m. tomorrow. The House is expected to consider H.R. 2693, Senator Harry Reid’s “Budget Control Act of 2011.”
7:27pm | Reid will use “Senate Vehicle” for compromise plan.
Roll Call’s Steven Dennis tweets: Dem Aides: Senate expected to vote to table Boehner bill, and use Sense of the Senate as vehicle for Reid debt package.
7:22pm | White House statement on the passage of the Boehner bill:
“The bill passed today in the House with exclusively Republican votes would have us face another debt ceiling crisis in just a few months by demanding the Constitution be amended or America defaults. This bill has been declared dead on arrival in the Senate. Now that yet another political exercise is behind us, with time dwindling, leaders need to start working together immediately to reach a compromise that avoids default and lays the basis for balanced deficit reduction.”
“Senator Reid’s proposal is a basis for that compromise. It not only achieves more deficit reduction than the bill passed in the House today and puts a process in place to achieve even more savings, it also removes the uncertainty surrounding the risk of default. The President urges Democrats and Republicans in the Senate to find common ground on a plan that can get support from both parties in the House – a plan the President can sign by Tuesday.”
7:07pm | Senate to vote on Boehner plan.
We’ve been told to expect three votes to begin shortly on the Senate floor. The first two will be procedural, while the third will be a vote to table the Boehner plan in the Senate — effectively killing it.
“For the sake of our country, and the sake of our economy, the House has passed a responsible bill that can pass the Senate,” he writes. “Now it’s time for our colleagues in the Senate to pass it, send it to the president, and bring this crisis to an end.”
6:52pm | Senate Majority Leader Harry Reid will file cloture on a compromise plan to raise the debt limit by 11:59pm tonight.
That would allow for a vote in the Senate on Monday. (More on the timeline here.) Reid is still tweaking his bill to gain GOP votes in both the Senate and the House.
6:36pm | Senate Minority Leader Mitch McConnell on the House vote on the Boehner bill:
“The House has now passed its second bill in two weeks that would prevent a default and significantly cut Washington spending. The Senate is a different story. Rather than working towards a solution to this crisis the way the Republican majority in the House has, the Democrat majority here in the Senate has been wasting precious time rounding up ‘no’ votes. Rather than come up with a bill that can pass, they’ve been busy ginning up opposition to everything else. Now it’s time for them to act. I eagerly await the Majority Leader’s plan for preventing this crisis.”
6:26pm | The Senate will take up the Boehner bill shortly.
Reid will file a motion to table the bill — stopping further consideration — which is expected to pass.
6:23pm | Final vote count:
6:19pm | Boehner bill passes.
6:17pm | 6:30 minutes left.
210-203. 15 GOP against. 20 haven’t voted.
6:13pm | Vote ongoing.
With 10 minutes remaining in the vote, 201 GOP representative have voted in favour of the bill. 12 GOP’ers have voted against, while 184 Democrats are against.
Count: 201-196. 38 haven’t voted.
The measure is expected to pass.
5:53pm | It’s a rowdy House of Representatives tonight.
Rep. Kathy Hochul (D-NY) who stood up to speak on behalf of the motion recommit ran slightly over the allotted time and was shouted down by GOP lawmakers.
Earlier Democratic lawmakers booed Speaker Boehner on the floor.
5:45pm | Democrats try one last time to block the bill.
They have filed a “motion to recommit” the Boehner bill. It will fail after a brief debate and then the vote on the bill will begin.
5:36pm | Speaker of the House John Boehner now speaking on the House floor.
Boehner: “Today we have a chance to end this debt limit crisis.”
“We’re advancing the great cause of a balanced budget amendment to the Constitution,” he said to applause.
Boehner: “There’s no gimmicks….no smoke screens here.”
Boehner: “We’ve tried to do the right thing…but some people continue to say no.”
Boehner says his bill “reflects an honest and sincere effort to end this crisis.”Boehner: “I stuck my neck out a mile to work with” Obama. Democrats booing on the House floor.
Boehner: “End this crisis now.”
5:35pm | The House is now voting on procedural measures before taking up the Boehner plan in its entirety.
The final vote is expected around 6:15.
Also, yesterday Moody’s placed the ratings of 177 U.S. municipal issuers that are indirectly linked to the U.S. Government on review for possible downgrade.
4:59pm | Things are about to get interesting.
Yes, we know it’s been a slow afternoon on the debt limit front, but don’t start your happy hour just yet. It’s about to get exciting!
Speaker of the House John Boehner is expected ot speak on the House floor within the hour about his plan, followed not too long thereafter by a series of votes on the measure.
After that, the Senate will take up the bill (where it will likely be voted down).
3:50pm | Sen. Mark Warner (D-VA) to Bloomberg’s Lizzie O’Leary today:
“A lot of traders are thinking this is going to get solved. If we get past 6:00 tonight, watch out.”
2:50pm | Sen. Scott Brown may support Reid plan.
Massachusetts radio station WBUR tweets: “Sen. Brown tells WBUR parties need to work across the aisle to resolve debt-ceiling impasse; he’d vote for Reid’s plan”
12:58pm | White House Press Secretary Jay Carney is briefing the press now:
Carney says the White House is involved in conversations that will help Congress reach a compromise.
Carney says the White House is concerned “because there is evidence the economy has suffered” because of the circus around this debate.
Carney is refusing to detail the behind-the-scenes conversations the president is having.
12:33pm | How it will go down:
The House will pass the Boehner bill this evening.
The Senate will vote it down immediately afterwards.
Shortly thereafter Reid will unveil his compromise and files cloture on the Reid amendment on the bill.
On Sunday (1 a.m. or so) the Senate votes on cloture for the motion to proceed setting the stage for a cloture vote to end debate on Monday morning.
A final vote in the Senate would occur on Tuesday, before the bill returns to the House for a nail-biter vote.
UPDATE: There is some dispute about this timeline in terms of Senate cloture votes. We are working to confirm now.
UPDATE 2: We clarified this over here.
12:14pm | Senate Majority Leader Harry Reid is speaking live now:
Sen. Reid: “We have said for weeks now we will not accept a short-term increase to the debt. Just can’t do that.”
“It’s really hard to comprehend the confusion that they’ve had over there and are still having today.” In reference to GOPers.”
Reid: “The only compromise there is, is mine.”
“In the Senate we have proposed compromise. What is being done in the House is not compromise.”
Reid says Boehner should be able to pass bill easily now: “They’ve basically given the right wing even more than what they had before.”
Reid calls on Minority Leader McConnell to meet with him “to work this out”
Sen. Dick Durbin (D-IL) now speaking:
Durbin says Boehner will have the votes to pass his bill, but says Boehner’s changes have made it worse.
Now Sen. Chuck Schumer (D-NY):
Schumer: “The Boehner plan says we won’t default on you now but we will in January, it is absurd.”
Schumer calls on Senator McConnell to become engaged: “The ball is in his court, and only in his court.”
Schumer: Senate Democrats hope to reach a deal with Senate GOP by day’s end.
12:03pm | The revised Boehner bill will hinge the 2nd debt limit increase of $1.6 trillion on spending cuts of the same amount and the submission of a balanced budget amendment to the Constitution to the states.
The revised bill now reads that the $1.6 trillion increase in the debt limit shall not occur unless cuts from the bipartisan fiscal reduction committee are “greater than $1,600,000,000,000 and the Archivist of the United States has submitted to the States for their ratification a proposed amendment to the Constitution of the United States pursuant to a joint resolution entitled ‘Joint resolution proposing a balanced budget amendment to the Constitution of the United States.”
Sending a balanced budget amendment to the states requires a “yes” vote from two-thirds of both houses of Congress — which will not happen.
This version is substantially longer than the one first introduced by Boehner earlier this week and includes some legislation relating to wireless spectrum auctioning. (We’re still digging through it)
11:37am | Boehner all smiles.
Speaker of the House John Boehner has the votes to pass his debt limit bill in the House. Leaving a meeting with his caucus he told reporters “I’m smiling” when asked if the bill would pass.
11:34am | “Near Capacity”
Following President Obama’s call to contact Congress, Capitol phone circuits are “near capacity.”
11:21am | Boehner’s new deal:
Rep. Jeff Flake (R-AZ) on CNBC says he expects a balanced budget amendment to be included in the Boehner bill before it is voted on today.
He says he has “more respect” for the Speaker now, than before.
11:20am | Obama’s speech as a word cloud:
10:53am | Boehner bill likely to pass today.
Speaker of the House John Boehner’s plan to raise the debt limit is almost certain to pass the House today after Rep. Jeff Flake (R-AZ) has decided to back the bill.
Boehner is adding a requirement that a balanced budget amendment pass Congress before the debt ceiling is raised in his second stage, which will make it impossible to pass the Senate.
The Boehner bill passing does speed up the process of reaching a debt limit deal, as the Senate can now amend the Speaker’s bill — turning it into the Reid bill — eases Senate and House rules of debate because it wouldn’t be an entirely new measure.
10:42am | Obama calls for compromise:
In his first remarks on the debt limit since Monday, President Barack Obama called for compromise, noting that “we are almost out of time.”
He acknowledged that the Reid and Boehner plans for raising the debt limit are not that far a part, and encouraged Congress to put aside partisan differences to reach a compromise.
“The time for putting party first is over. The time for compromise is now,” he said.
Obama said he would endorse an “enforcement mechanism” on the bipartisan deficit reduction committee that will meet later this year to force a second round of spending cuts in the Reid plan. This would replace Republican demands that the debt limit be used as bargaining chip early next year.
Obama repeated that the Boehner bill is dead in the Senate, adding “It will not solve the problem, and it has no chance of becoming law.”
10:37am | Obama speaks on the debt limit again, here are our notes:
House is still trying to pass a bill a Majority in the Senate say they will not vote for.
“It will not solve the problem, and it has no chance of becoming law.”
Obama: “There are multiple ways to resolve this problem.” He mentions the Reid and McConnell plans.
He says we agree on the amount of cuts now, and the process for more cuts later. He says he would endorse “some enforcement mechanism”
Obama: There are plenty of ways out of this mess, but we are almost out of time. We need to reach a compromise by Tuesday.
Obama: “If we don’t come to an agreement, we could lose our country’s AAA credit rating…because we lack a AAA political system”
Obama: We can end this burden with a simple vote.
Obama asks American people to “keep it up” contacting Congress, by phone, email and tweet.
Obama: “The time for putting party first is over. The time for compromise is now.”
10:35am | Two minute warning for Obama:
10:17am | We’re awaiting President Obama.
10:05am | McConnell’s response to the Reid plan.
Senate Minority Leader Mitch McConnell — who has so far deferred to Boehner to pass a bill — responded to Reid’s plan, saying Senate Democrats are “trying to keep this crisis alive.”
“Senate Democrats have not offered a solution to the crisis that can pass either House,” McConnell said. “Republicans have been doing the hard work of governing this week, it’s about time our Democrats joined us.”
He went on to chide President Obama for his plans to roll out new mileage standards today.
Reid responded by basically begging Senate Republicans to help come up with a deal that can pass:
“Help me work through this, I have no pride of authorship.”
But he reiterated that he won’t bring a short-term solution to the floor.
The Senate is adjourned until 11:00 a.m.
9:53am | Balanced Budget Amendment back.
POLITICO’s Mike Allen tweets: “new intel ahead of 10 am House GOP conf.: will add Balanced Budget Amendment provision … STILL NOT SURE HAVE VOTES … but plan vote today”
9:49am | Why Reid’s filing today.
Reid says given Senate rules, if he doesn’t move on a bill by tonight, there won’t be time for Congress to pass a bill before midnight Tuesday.
9:44am | The Reid plan.
No revenues, $2.4 trillion debt limit increase, joint committee for deficit reduction.
He says CBO has scored his bill as more than $2.4 trillion in cuts, meeting Republican demands.
Reid: The Senate plan is “Our last, best chance to preserve the character and credit of this great nation.”
9:37am | Reid on the Senate floor:
“Boehner’s plan is flawed. Republicans have plowed forward, looking only to Republicans.”
Boehner bill would put us on the path to “another default extravaganza”
Reid says the Senate will move ahead on its own plan because the House is stalled.
He adds he spoke to Tim Geithner who said big businesses unable to borrow money for longer than overnight because the interest rate is in question.
Reid: “We have hours — repeat hours — to act.”
Reid: “This is likely our last chance to save this nation from default.”
Reid says he needs McConnell today “I can’t do this alone”
“The last train is leaving the station, and this is our last chance to avoid a default.”
“My door is open. I will listen to any idea to get this done in a way that prevents a default…”
9:26am | South Carolina newspaper lauds delegation for sticking up to Boehner.
The Washington Post’s Erik Wemple notes that The State newspaper calls their position a “remarkable show of defiance” — not once, but twice — in the paper’s lead story.
9:18am | Extremely Optimistic:
Senator Bob Corker (R-TN) just told MSNBC that he is “extremely optimistic that we’re going to get something done,” on the debt limit.
9:05am | Democratic Whip Steny Hoyer’s Office emails:
First House vote predicted:???
Last House vote predicted:???
He calls the Boehner bill, “Speaker Boehner’s Short Term Default Act.”
It’s going to be a long day.
8:41am | It’s the calm before the storm.
The markets will open at 9:30 and all hell will break out on Capitol Hill as lawmakers of both parties struggle to raise the debt limit.
8:23am | The White House is not being shy about sticking it to the House GOP.
A senior administration official emails POLITICO’s Mike Allen: “What movie do they show in the caucus tomorrow? ‘Lord of the Flies’?”
On Thursday, Reid spokesman Adam Jentleson tweeted: “The Senate stands ready to defeat the Boehner plan whenever House Republicans can get their act together.”
8:17am | Reid-McConnell is back.
Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell are expected to meet today to hash out a Senate compromise between the Reid and Boehner plans.
House Minority Whip Steny Hoyer tells CNBC he has been meeting with Senators to discuss tweaks to the Reid bill so that it can gain GOP votes in the House.
Hoyer adds that House Republican leaders have yet to reach out to Democrats on ways to tweak Boehner bill to get Democratic support.
8:13am | Whip Count Update.
According to The Hill, 25 Republicans remain no/lean-no votes on the Boehner bill. The Speaker can lose no more than 24 GOP representatives if his bill is to pass without Democratic support (of which there is none).
8:10am | Today may be the most important day in John Boehner’s speakership.
Even Republicans acknowledge this is a do or die moment for him.
“His being Speaker is clearly at stake here,” Sen. John McCain (R-AZ) said Thursday night on Fox News.
8:08am | Back to work?
The House will convene this morning at 9 a.m. though no votes are expected before 11 a.m. (They also have 6 scheduled votes on renaming post offices to kill time to allow further whipping for the Boehner plan vote if necessary.)
The Senate will convene at 9:30 a.m.
8:04am | The way forward.
At the same time, Democratic Senators will gather with Majority Leader Harry Reid to discuss how they will move ahead with his proposal to raise the debt limit.
8:03am | Damage Control.
House Republicans will caucus with their leadership at 10 am today to plot a way forward.
Boehner has yet to introduce his revised proposal that would — in theory get him more GOP votes.
8:00am | Good morning.
It’s D-Day -4, with 88 hours until the August 2nd deadline. Do you know where you debt limit increase is?
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