|House Meets At:||First Vote Predicted:||Last Vote Predicted:|
9:00 a.m.: Legislative BusinessFive “One Minutes” per side
|10:00 – 11:00 a.m.||12:00 – 1:00 p.m.|
H.Res. 39 – Rule providing for consideration of H.R. 325 – “No Budget, No Pay Act” (Rep. Camp – Ways and Means/House Administration) (One Hour of Debate). The Rules committee has recommended a closed Rule that provides for 40 minutes of general debate equally divided between the Chair and Ranking Member of the Committee on Ways and Means and 20 minutes of general debate equally divided between the Chair and Ranking Member of the Committee on House Administration. The Rule allows one motion to recommit, with or without instructions and waives all points of order against the legislation.
H.R. 325 – “No Budget, No Pay Act” (Rep. Camp – Ways and Means/House Administration) This measure would suspend the debt limit through May 18, 2013 and provide for an automatic increase in the current $16.4 trillion limit to accommodate borrowing incurred up to that date. The Treasury Department hit the limit of its borrowing authority at the end of December and is currently using "extraordinary measures" to finance government operations — but needs an increase in its borrowing authority by mid- to late-February to avoid default. The bill would also suspend the payment of salaries to Members in either chamber that does not adopt a FY 2014 budget resolution by April 15. The salaries would be held in escrow until a budget resolution is adopted, or until the 113th Congress ends on Jan. 3, 2015.
This bill is not a serious proposal by House Republicans. It is yet another gimmick that does not provide certainty to the business community, international markets, or job creators that the United States will pay its bills. This legislation will simply set up another GOP-manufactured crisis in four months, putting the economy and the creditworthiness of our nation at risk.
Instead of continuing to play games with our economy, Republicans should work with Democrats to ensure our nation does not default on its obligations while working on a big, balanced solution to our deficits.
|The Daily Quote|
“If the definition of insanity is doing the same thing while expecting different results, Republicans may be learning from political shock therapy. Speaker John Boehner's decision to postpone a debt-ceiling showdown is best understood as the GOP's attempt to break a cycle of manufactured crises that have worked to President Obama's advantage.... Such strategic thinking isn't sitting well with some conservatives who seem to enjoy marching into the fixed bayonets. And then doing it again, and again. The critics are right that this is a retreat from Mr. Boehner's 2011 ‘rule’ that the GOP will only raise the debt limit by as much as Mr. Obama agrees to cut future spending over 10 years. But Mr. Obama isn't going to agree to that, and the GOP hasn't done nearly enough to prepare the public for such a showdown.… This is a political gimmick to be sure.”- Wall Street Journal, 1/22/13