House to reject debt limit increase without cuts
WASHINGTON (AP) — The GOP-led House is poised to reject a bill Tuesday to increase the nation's debt limit without the big spending cuts that Republicans are demanding. The move is intended as an embarrassing reminder to Democrats that increasing the government's ability to borrow is tied to such reductions.
Tuesday's vote on the $2.4 trillion increase will also allow tea party-backed Republicans to go on record against an increase that doesn't include big spending cuts.
The real, serious effort to increase the borrowing cap will come this summer and will be paired with spending cuts of $1 trillion or more.
Vice President Joe Biden is leading negotiations with top lawmakers in an effort to come up with the spending cuts.