Friday, July 29, 2011

John Boehner changes debt limit,Tea Party support

It looks like the House Republican leadership may have found a way to get their members to vote in favor of their debt limit plan: By adding a Balanced Budget Amendment requirement that makes the bill even more toxic to Senate Democrats and the White House.
Following a closed-door meeting of the House GOP Friday morning, Republican Reps. Jeff Flake of Arizona, Phil Gingrey of Georgia and Jeff Landry of Louisiana said they had gone from a "no" to a "yes" - and it appeared several other members had also come on board. The House leadership cancelled a planned vote on the bill last night after it became clear that they could not win enough votes from hardline fiscal conservatives for passage.
What changed? Members say the bill is being changed to tie a second debt ceiling increase roughly six months from now to successfully sending a Balanced Budget Amendment to the states, which would require a 2/3 majority in both the House and the Senate.
They say a vote on the new version of House Speaker John Boehner's plan will be held today between 5:00 and 6:00 p.m. Eastern Time - and the bill will pass.
As of the last CBS News count, there were about two dozen members who were either vowing to vote against the no or strongly leaning against it. But that count does not include these recent changes of heart. Republicans need 216 votes for passage, and can afford to lose 24 votes and still pass the measure without Democratic support.
The inclusion of the Balanced Budget Amendment provision would also prompt the Club for Growth, the influential fiscal conservative group, to remove its objection to the bill. In a statement Friday morning, Club for Growth President Chris Chocola said, "We strongly believe that a Balanced Budget Amendment is the piece of the puzzle that puts us on a path to fiscal responsibility and fundamentally reforms our broken budget process. If this new bill accomplishes that goal then the Club for Growth will withdraw its opposition to the Boehner plan and will not key vote against it."
In reality, however, there is no chance that a Balanced Budget Amendment will get the two-thirds majority necessary for passage in both chambers. (To go into effect, it would also need to be ratified by three-fourths of the states.) If Congress ends up passing some sort of compromise legislation between the Senate and House plans, the Balanced Budget Amendment will almost surely be stripped out.
Video: Default could spike mortgage costs
Video: Debt debate furloughs FAA employees
Schieffer: We're behind Square One, in a holeThere are different versions of the Balanced Budget Amendment, and it's not clear which one would be included.
Fiscal conservatives prefer a version that would require a balanced federal budget, but would require a 2/3 vote in the House and Senate for any tax increases. It would also cap federal spending at 18 percent of gross domestic product. Others prefer a version that's "clean" and requires a balanced budget, but does not tie the hands of future lawmakers.
President Obama on Friday morning urged lawmakers to come to a bipartisan solution to reach a deal to increase the nation's $14.3 trillion debt limit before Tuesday's deadline.
"The time for putting party first is over. The time for compromise on behalf of the American people is now," Mr. Obama said. "And I'm confident that we can solve this problem."
The addition of the Balanced Budget Amendment provision would actually move the House plan further to the right, however. But it appears to be the only way for Boehner and his leadership team to save face and pass a Republican version of a bill to raise the debt ceiling in the last days before the deadline is reached.

No comments:

Post a Comment