RECAP: Here's What Happened Since Last Night On The Debt Limit/ Shutdown Negotiations
- Government funded through January 15
- Debt limit extended until February 7
- A budget conference established to come up with long-term spending plans by December 13
- Income verification for recipients of subsidies under Obamacare’s newly-established exchanges
There are two options for what happens with this proposal: First, the Senate could pass the legislation, then send it to House Speaker John Boehner (R-OH) who in all hopes would swallow his pride and bring it to the floor of the House for a vote, despite vocal opposition from a minority of House Republicans. But doing this would open up the possibility that someone in the Senate — Sen. Ted Cruz (R-TX) seems like a likely candidate — could derail the process before it ever makes it to the House.
The other option is for Senate leaders to urge the House to take up the bill first, then pass it and send it to the Senate (again, under the condition that it actually garners enough support). That system would expedite the process slightly, and could potentially allow the Senate to tweak some of the language in the House’s bill. It would not totally lift the threat, though, that Cruz or one of his Republican colleagues could block the bill’s passage.