WASHINGTON (AP) — Republican leaders in the House of Representatives are postponing a vote on a plan to increase the U.S. debt limit and avoid an unprecedented default.
The plan would trade more than $1 trillion in spending cuts for an increase in the government’s borrowing cap that would be nearly as large.
Republican Rep. David Dreier says the postponement is because congressional scorekeepers said the bill won’t produce the budget savings promised by House Speaker John Boehner when unveiling it Monday.
Republicans are also struggling to shore up support for the measure among conservatives unhappy over its promised budget cuts.
Republican leaders had promised a vote on Wednesday.
Dreier says the measure could come to a vote on Thursday after it’s modified.
