A temporary thaw in chilly negotiations
One of the more promising developments in the past week was a proposal by House Republicans to extend the debt ceiling until May 19. The bill has only one string attached: it includes a provision that if either house fails to pass a budget by April 15, they forgo their pay. This provision may not be constitutional and may not survive in the final legislation. There is also some chance that – as with House Speaker Boehner’s “Plan B” – the bill won’t pass the House. However, ultimately we expect the bill to pass.
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