This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.nytimes.com/2013/10/11/us/politics/debt-limit-debate.html

The article has changed 15 times. There is an RSS feed of changes available.

Version 0 Version 1
House G.O.P. Discusses Short-Term Fix on Debt Limit House G.O.P. Discusses Short-Term Fix on Debt Limit
(34 minutes later)
WASHINGTON — House Republicans gathered Thursday morning to discuss a plan to lift the government’s statutory borrowing limit temporarily to allow for negotiations on a package of deficit reduction and tax reform proposals that could lead to a reopening of the government and an end to the threat of government default. WASHINGTON — House Republicans, looking for a way out of a budget standoff they began, plan to vote as early as Thursday on a plan to raise the debt limit through Nov. 22.
House Republican leaders jumped on the plan, presented on Wednesday by Representative Paul D. Ryan of Wisconsin, chairman of the House Budget Committee. Meantime, a group of Republican senators has begun meeting with Senator Mitch McConnell of Kentucky, the Republican leader, to find a bipartisan solution to the twin fiscal impasses. The plan would not include any additional spending cuts, potentially making it appealing to Congressional Democrats and the Obama administration. But the plan would not reopen the government, which has been closed since last week, which could create a difficult choice for Democrats.
The senators are examining a year-long resolution funding the government at levels that reflect automatic spending cuts known as sequestration, but with added flexibility to help government agencies and departments deal with the tight budgets. The debt ceiling would also be raised. Economists across a broad spectrum agree that violating the debt limit — which could happen as early as next week, absent Congressional action — would probably severely damage the economy. The new Republican proposal could temporarily remove that threat.
A repeal of a tax on medical devices would lend a face-saving fig leaf for conservatives trying to take a bite out of the president’s health care law. And Republicans are eying new income verification procedures to limit access to the health exchanges under the new law. But Democrats have been hoping that any solution to the debt limit would also reopen the federal government. House Republicans, seeking to repeal the 2010 health care overhaul, blocked financing for the government last week.
Those proposals probably would not fly with Democrats, but Democratic aides said they are a positive start -- and a ray of hope that has buoyed stock markets and lifted the gloom that descended over Washington nine days ago when the government shut down. In not addressing the shutdown, Republicans would keep pressure on Democrats to negotiate on a package of deficit reduction and tax overhaul proposals.
Representative Tim Griffin, Republican of Arkansas, said that the plan the speaker presented appealed to him because it would give House Republicans some breathing room as they continued to try to plot their next steps.
“What we’re looking at here is a short-term — what some would call short-term — debt ceiling increase, so that we can keep talking without all of the potential issues hitting our ceiling.”
Republican leadership jumped on the plan, presented on Wednesday by Representative Paul D. Ryan of Wisconsin, chairman of the House Budget Committee.
Representative Mark Meadows, a freshman Republican from North Carolina who was an initial champion of the “defund Obamacare” movement, said he was supportive of the new strategy.
“Really, what this is all about is negotiating and finding common ground,” he said. “This looks like a window to be able to do that, and I’m supportive.”
Meantime, a group of Republican senators has begun meeting with Senator Mitch McConnell of Kentucky, the Republican leader, to find a bipartisan solution to the twin fiscal impasses.
The senators are examining a yearlong resolution funding the government at levels that reflect automatic spending cuts known as sequestration, but with added flexibility to help government agencies and departments deal with the tight budgets. The debt ceiling would also be raised.
A repeal of a tax on medical devices would offer a face-saving concession for conservatives trying to take a bite out of the president’s health care law. And Republicans are eying new income verification procedures to limit access to the health exchanges under the new law.
Those proposals probably will not fly with Democrats, but Democratic aides say they are a positive start — and a ray of hope that has buoyed stock markets and lifted the gloom that descended over Washington last week when the government shut down.

Ashley Parker contributed reporting.