The plan would reportedly reopen the federal government until January 15 and raise the debt ceiling until February 7. But it appears Treasury Secretary Lew would be able to use measure to extend the debt limit further.
House Republicans would also repeal the medical device tax for two years, cancel health-insurance subsidies for members of Congress, the president, vice president and the cabinet, and beef up income verification requirements for Affordable Care Act subsidies, according to Politico.
The White House immediately rejected the plan with a statement from a deputy press secretary:
The President has said repeatedly that Members of Congress don’t get to demand ransom for fulfilling their basic responsibilities to pass a budget and pay the nation’s bills. Unfortunately, the latest proposal from House Republicans does just that in a partisan attempt to appease a small group of Tea Party Republicans who forced the government shutdown in the first place. Democrats and Republicans in the Senate have been working in a bipartisan, good-faith effort to end the manufactured crises that have already harmed American families and business owners. With only a couple days remaining until the United States exhausts its borrowing authority, it’s time for the House to do the same.
Meanwhile, Obama today will huddle with House Democratic leaders at 3:15 at the White House.
The live stream of Speaker Boehner’s brief remarks, which ran in this space, has concluded.