A closer look at next week…

The GOP this week couldn't stop President Obama's request to raise the debt ceiling by another $1.2 trillion. Next week, House Republicans will counter by advancing bills that they hope will create an incentive to slow deficit spending through changes to the budget process.

Among other things, the House will take up bills that require a study on how spending bills affect the economy, and remove automatic inflation-related spending increases. Republicans will also be advancing other budget reform bills in committee that are not yet ready for floor action.

House Republicans will also take up a bill repealing the healthcare law's long-term health program, which is likely to draw opposition from Democrats who want to give the program another chance, even after the Obama administration admitted it's not financially viable.

As was the case for much of 2011, the Senate will spend much of next week on an entirely different topic. The Senate on Monday will hold a procedural vote on the Stop Trading on Congressional Knowledge (STOCK) Act, which aims to prevent members from benefitting financially from their access to non-public information.

Similar legislation has scores of co-sponsors in the House, but GOP leaders have said they want to consider the idea before moving ahead with the bill.

In the background, members of the House and Senate are continuing to work on a compromise for extending the payroll tax holiday, unemployment insurance, and the doc fix beyond the end of February, when they expire.

Below is a more detailed look at the week ahead:

Monday

The Senate meets at 2 p.m. for speeches, and at 4:30 p.m. will consider a motion to invoke cloture on S. 2038, the Stop Trading on Congressional Knowledge (STOCK) Act. A vote is planned for 5:30 p.m. A successful cloture vote could lead to more Senate work on this bill later in the week, although the Senate has no definite plans.

The House is not in session.

Tuesday

The House meet at noon for speeches, then at 2 p.m. for legislative work. Votes are expected on a motion to go to conference on H.R. 658, the FAA Air Transportation Modernization and Safety Improvement Act. Republicans and Democrats got closer to reaching a multi-year FAA funding extension in the last few weeks.

A vote is also expected on the rule for H.R. 1173, the Fiscal Responsibility and Retirement Security Act. This bill would repeal a portion of the 2010 healthcare law that sought to create a long-term health insurance program.

Wednesday

The House meets at 10 a.m. for speeches, then at noon to take up H.R. 1173, and three suspension bills. Those bills are:

H.R. 3835, to extend the pay limitation for members of Congress and federal employees;

H.Res. 496, to adjust committee expenditures for the 112th Congress, and;

H.R. 3567, the Welfare Integrity Now for Children and Families Act. This bill prevents welfare recipients from getting access to their payments in strip clubs, casinos and liquor stores.

Thursday

The House meets at 10 a.m. for speeches and noon for work on two budget reform bills. One is H.R. 3582, the Pro-Growth Budgeting Act, which requires a study on how legislation affects the economy.

The second is H.R. 3578, the Baseline Reform Act. This bill ends automatic inflation increases for budget items.

Friday

The House will meet at 9 a.m. for legislative work, to finish up the bills it started on Thursday. Last votes are expected by 3 p.m.