Cantor says House will vote next week to limit federal pay hike

The bill, H.R. 273, would roll back President Obama's December Executive Order calling for a cost of living increase of 0.5 percent for federal workers. Under that order, the increase will take effect March 27.

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Cantor said on the House floor Wednesday that the freeze should continue as part of an effort to keep federal spending in check at a time when many American families are struggling.

"This legislation … would extend the current federal pay freeze that has been in place since 2011," he said. "Hardworking taxpayers and families live within a budget, and it's time that we in Washington do the same."

Minority Whip Steny Hoyer (D-Md.) protested Cantor's plans by pointing out that federal workers would be receiving a cost of living increase, not a pay hike.

"I think it's unfortunate that now for two and a half years, the only working people … in America who have received a freeze or a decrease or have contributed to solving the debt crisis … are federal workers," Hoyer added.