POPVOX Daily Digest - January 23, 2013
From our Hill Sources:
The House met briefly on Wednesday to debate and approve a bill dealing with the debt ceiling: The No Budget, No Pay Act (H.R. 325) suspends the debt ceiling until the middle of May, allowing the government to take on what will likely be several hundred billion dollar in debt without violating the statutory debt limit.
Republicans agreed to provide this grace period in order to reach a longer-term agreement to raise the debt ceiling, which they hope will include new spending reductions. House Republicans hope to pressure the Senate into passing a budget, which would be the first in nearly four years. H.R. 325 states that if the House or Senate fails to pass a budget by April 15, members of that chamber will have their pay withheld.
Senate Democrats indicated they would quickly approve the bill, and welcomed a bill that would not immediately tie an increase in the debt ceiling to spending cuts