WASHINGTON (AP) — Hours before a crucial vote, Republican leaders pleaded with their fractious rank and file Thursday to support a House plan to stave off an unprecedented government default. The vote would bring President Barack Obama and congressional leaders a step closer to endgame efforts before Tuesday's deadline.
Republicans are seeking deep spending cuts in exchange for raising the nation's $14.3 trillion debt limit to allow the government to keep paying its bills. The White House has threatened to veto the GOP bill if it makes it through the Democratic-controlled Senate. Still, getting the newly modified House plan passed on Thursday was seen as an important step toward finding a compromise — possibly in the Senate.
Rival plans by House Speaker John Boehner and Senate Democratic leader Harry Reid have enough in common — including the establishment of a special congressional panel to recommend additional spending cuts this fall — that Reid has hinted a compromise could be achievable.
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