Cantor Insists on Budget ‘Reforms’ in Return for Debt Hike
House Majority Leader Eric Cantor, R-Va., outlined a plan Friday to hold federal spending and the debt limit hostage — but not necessarily over Obamacare.
“House Republicans will demand fiscal reforms and pro-growth policies which put us on a path to balance in ten years in exchange for another increase in the debt limit,” Cantor wrote in a memo to GOP lawmakers.
With President Barack Obama vowing not to negotiate, the United States faces a default crisis a little over a month after lawmakers return.
Cantor’s threat has a somewhat different standard than the demand from Speaker John A. Boehner, R-Ohio, that any increase in the debt ceiling be accompanied by an equivalent amount of “cuts and reforms.” Boehner’s demand, known as the “Boehner rule,” was violated earlier this year when the House punted on the debt limit, but the speaker recently promised a “whale of a fight” this fall.
Cantor also said Republicans would demand Obama agree to keep the sequester in place past Sept. 30 — and slash $64 billion from the levels Obama signed months ago.
Read More on Roll Call: Cantor Insists on Budget ‘Reforms’ in Return for Debt Hike