“We’re here to change Washington – no more smoke-and-mirrors, no more ‘phantom cuts,’” Boehner said in a statement. “We promised that we will cut spending more than we increase the debt limit – with no tax hikes – and we will keep that promise. As we speak, congressional staff are looking at options to adjust the legislation to meet our pledge. This is what can happen when you have an actual plan and submit it for independent review – which the Democrats who run Washington have refused to do.”
One GOP lawmaker said staffers were looking to cut more spending, and not reduce the debt limit increase, in response to the CBO estimate.
The delay threatens Washington’s race against the clock as Congress tries to pass an increase in the $14.3 trillion debt ceiling by Aug. 2.