House moves ahead on debt deal; CBO confirms it would save $2.1 trillion
President Obama and congressional leaders sought to rally their parties Monday behind a compromise debt-reduction deal that nonpartisan analysts said would save at least $2.1 trillion over the next decade, and the House moved ahead with plans to hold the first vote on the new measure later in the day.
After a series of votes on other matters, the House began debate related to the compromise plan shortly before 3 p.m.
Feeling optimistic that they have the votes for passage, House Republican leaders told Senate leaders earlier Monday that the House would move first on the revised legislation. The House Rules Committee held a 1 p.m. meeting to draft the debate plans, and aides suggested that the full House could vote on the plan by Monday evening. If it passes, the Senate would consider it late Monday or Tuesday.
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