Eric Cantor Makes Debt Ceiling Offer
WILLIAMSBURG, Va. -- House Republicans will vote next week on a three-month extension of the debt limit, Majority Leader Eric Cantor (R-Va.) said Friday.
Cantor released the following statement at the conclusion of the annual House Republican retreat, where much of the discussion was focused on approaching fiscal deadlines:
Quote:
The first step to fixing this problem is to pass a budget that reduces spending. The House has done so, and will again. The Democratic Senate has not passed a budget in almost four years, which is unfair to hardworking taxpayers who expect more from their representatives. That ends this year.
We must pay our bills and responsibly budget for our future. Next week, we will authorize a three month temporary debt limit increase to give the Senate and House time to pass a budget. Furthermore, if the Senate or House fails to pass a budget in that time, Members of Congress will not be paid by the American people for failing to do their job. No budget, no pay.
The announcement comes a day after House Budget Chair Rep. Paul Ryan (R-Wisc.) told reporters that Republicans were "discussing the possible virtue of a short-term debt limit extension." Per the new approach,
the party is hoping that it can extract spending cuts from President Barack Obama during the course of other looming budget battles -- the automatic sequestration-related cuts that are set to kick in on March 1 and the expiration of the continuing resolution on March 27.
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Read more here:
http://www.huffingtonpost.com/2013/01/18/eric-cantor-debt-ceiling_n_2505001.htmlGame, set, match!