Feb. 11 (Bloomberg) — House Republican leaders are proposing an increase in the debt limit for one year that would include benefits for military retirees, even as some lawmakers said the plan would need Democratic votes to pass.
House lawmakers may vote on the plan, which would suspend enforcement of the debt limit until March 15, 2015, as soon as tomorrow. If it doesn't pass, several Republicans said the next step would be a measure favored by President Barack Obama and Senate Democratic leaders that lifts the borrowing limit without conditions.
"We can't allow the country to default, and this moves the process forward," Representative Charlie Dent, a Pennsylvania Republican, said after a private meeting of House Republicans late yesterday. "If the votes aren't there, at some point we'll have to vote on a clean bill."
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