That schedule from this morning that I wrote about? Most of it went up in smoke, thanks to a long caucus meeting of questionable utility. Republicans heard from Jerome Powell of the Bipartisan Policy Center, who gave them a read on the disaster that could unfold if no debt vote happened before August 2.
“Frankly, it closely followed a lot of information that’s been developed by the joint economic committee,” said John Boehner, without saying that the presentation changed minds. “I think the information was very helpful for members.”
The information did not prevent Boehner and the caucus from moving ahead with a plan that can pass the House, but probably can’t survive the Senate or the president. That’s the “Cut, Cap, and Balance” plan that conservatives have been pushing for the last month – the Senate text of which is right here. Now, some Democrats have been going along with plans to cut some spending, but not this much. The cuts and the version of the BBA in this package are anathema to them. But this is what House Republicans will go ahead and pass, to plant a flag.
“We just walked out of a very strong conference,” said Majority Whip Kevin McCarthy, “and next week, Republicans will show again that they can lead. We welcome every Democrat to join with us. We will take the bill out of the House. And if you’ve ever questioned that the Republicans can do it on their own, they will do it.”