Republican Move to Extend Federal Borrowing Could Return Spotlight to Sequester
- January 21, 2013
The House Republican plan to pass a short-term increase in the nation’s borrowing limit without accompanying spending reductions would restore the focus on Capitol Hill to addressing the automatic cuts slated to go into effect on March 1 and expiration of the stopgap spending bill funding the government later that month.
On Friday, House leaders said they would take up a measure this week to raise the debt ceiling to a level that would not be reached until April 15, a move that could postpone the threat of another showdown over one dispute until after Congress deals with the other two fiscal issues on its plate. The proposal would require the House and Senate to pass a budget resolution for fiscal 2014; if either chamber fails to, lawmakers would not be paid, according to the plan House Republican leaders described.
Even after shifting the deadline for increasing the borrowing limit until April, the three fiscal issues looming over the coming months still could be intertwined, reported CQ. Republicans most likely will attempt to trim spending during the rest of the current year as well as in the FY 2014 budget resolution.
Pushing back the deadline for exceeding the debt ceiling would allow the two chambers time to first adopt a FY 2014 budget resolution, House Republicans said. In their eyes, the resolutions would include spending cuts, according to the publication.