Sen. Charles SchumerCharles SchumerOvernight Cybersecurity: Trump defends Flynn, blasts leaks | Yahoo fears further breach Overnight Finance: Trump's Labor pick withdraws | Ryan tries to save tax plan | Trump pushes tax reform with retailers Democrats declare victory after Puzder bows out MORE (D-N.Y.) spoke after Ensign, and called Republicans' proposal a “scorched earth strategy” and a “Trojan horse.”

“We will not be fooled by it,” Schumer said.

Sen. Jeff SessionsJeff SessionsObama-era cash for cronies under House fire McConnell: 'Winners make policy, losers go home' DeVos should ‘persist’ despite liberal opposition MORE (R-Ala.) followed Schumer, and predicted that if spending is not cut immediately, the U.S. would face a credit crisis within one year.

“We are living in a fantasy world if we don’t think we can find $61 billion to reduce from the Obama budget,” Sessions said.

But Sen. Jeff Bingaman (D-N.M.) said Republicans’ plan would “mindlessly cut funding.”

The votes on both proposals are scheduled for around 4 p.m.