South Carolina Congressman Mick Mulvaney was part of the Republican meetings that led to the decision. He told Fox News Friday he plans to support the bill, “Look, nobody else has offered a plan. Here’s our plan: we cut the spending, we cap the spending, we get the balanced budget to the Constitution. What’s wrong with that?”
House Republicans plan to hold a vote next week on a “Cut, Cap, Balance” measure that would raise the debt ceiling, but also include a balanced budget amendment to the Constitution.
The proposal would require Congress to cut spending by $2.4 trillion over the next decade, cap its spending at 18 percent of GDP, and pass on a balanced budget amendment to the states.
Democrats, led by President Obama, called the bill political posturing. During a White House briefing Friday, Obama told reporters, “If you’re trying to get to $2.4 trillion without any revenue, you are effectively gutting a whole bunch of domestic spending that is going to be too burdensome.”
It stands little chance of passing in the Democratic-controlled Senate, where opponents say the bill’s requirement for a supermajority to approve any tax increase is excessive.
Mulvaney said he thinks next week’s vote will unite Republicans, who have been divided over how best to raise the debt ceiling, or even raise it at all, “What I saw was… the center of our party and the right wing of our party together saying this is something that works for everybody.”
However, 63 House Republicans have signed a letter saying they do not think raising the debt ceiling is necessary, so it is not clear if all 218 Republicans would vote for the bill.