WKYT | Lexington, Kentucky | News

House to vote on tea party-backed debt plan

WASHINGTON (AP) - The Republican-controlled House today is expected to pass a plan to let the government borrow another $2.4 trillion if Congress adopts a constitutional amendment requiring a balanced federal budget. But the legislation is doomed in the Senate.
Congress has until Aug. 2 to raise the debt ceiling to avoid default.
Today's vote is an opportunity for tea party allies to try to do things their way.
After the cut, cap and balance measure stalls in the Senate, leaders there appear likely to try to advance a bipartisan plan to get around the debt-limit crisis by giving President Barack Obama sweeping powers to order an increase in the borrowing cap.


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