WASHINGTON (AP) — With a default deadline drawing ominously near, House Republican leaders are giving the tea party what amounts to a symbolic floor vote on a "cut, cap and balance" debt-limit plan while behind the scenes work continues on a fallback measure that could become the framework for a compromise. [See House bill requires spending cuts, balanced budget]
The chamber will vote Tuesday on the plan to let the government borrow another $2.4 trillion — but only after big and immediate spending cuts and adoption by Congress of a constitutional amendment requiring a balanced federal budget.
The plan is doomed in the Democratic-controlled Senate, and the White House has promised a veto.
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