Wednesday: Two weeks until debt-ceiling deadline

Second, Senate Majority Leader Harry Reid (D-Nev.) said Tuesday that he thinks he sees progress in talks with Senate Minority Leader Mitch McConnell (R-Ky.) to give President Obama the authority to raise the debt ceiling on his own.

President Obama indicated yesterday that he supports the Reid-McConnell talks because they could be needed as a short-term answer to the debt-ceiling impasse. Gang of Six members themselves indicated that their plan may not be ready in time for Aug. 2.

The third reason the House could be marginalized is related to the first two. While the Senate appears to be making some headway on a bipartisan basis, only the House seems to like the House GOP's "cut, cap and balance" plan approved on Tuesday.

Given that the House plan does not appear likely to be taken up by the Senate, the House might be in a wait-and-see mode, and then could be forced to examine whatever spills out of the Senate.

House Budget Committee Chairman Paul Ryan (R-Wis.) on Tuesday said the Gang of Six plan is promising, but outlined several potential problems with it.

While waiting on the Senate is unlikely to make House Republicans happy, it promises for a busy next couple of weeks. House Majority Leader Eric Cantor (R-Va.) warned Tuesday that the House could meet Saturdays and Sundays until an agreement is reached.

The House meets at 10 a.m. for speeches and noon for legislative work, and has a light day compared to Tuesday.

The House will take up a rule for H.R. 2553, a bill extending airport taxes until Sept. 16. These taxes, which help fund the Federal Aviation Administration, expire July 22.

This is yet another short-term extension of these taxes. Republicans and Democrats are split on air union rules in a bill that would extend the taxes for five years.

The House also takes up H.J.Res. 66, which would renew import restrictions in the Burmese Freedom and Democracy Act.

The Senate meets at 9:30 a.m., ostensibly to take up H.R. 205, the Military Construction, Veterans Affairs and Related Agencies Appropriations Act. But it's unclear whether the Senate will actually take up amendments to this bill.

More in Senate

Wednesday: Iran debate

Read more »