Lawmakers in both the House and the Senate are watching and waiting to see if House Speaker John Boehner’s debt plan will come to a vote, and whether it will pass.
House Republican leaders abruptly delayed a vote on the bill to raise the debt ceiling and cut US deficits just minutes before it was to occur Thursday evening.
If and when the bill passes, Democrat leaders in the Senate have said they’ll move to table the bill. Sen. Harry Reid (D-Nev.) is then expected to introduce his bill with modifications.
But Sen. Mike Crapo (R-Idaho), one of the original bipartisan Gang of Six who negotiated their own deficit deal, told Larry Kudlow that while there have been discussions about increasing spending cuts in Reid's plan, no committments have been made yet.