Reid calls Friday vote on GOP's ‘cut, cap and balance' legislation

Senate Majority Leader Harry Reid (D-Nev.) on Thursday said House Republicans’ pending “cut, cap and balance” proposal is among the worst pieces of legislation to appear on the floor in Senate history.

Claiming he did not want to waste any more time on the "senseless" proposal, Reid also said he would move a procedural vote on the bill forward to Friday. The vote had been scheduled for Saturday.

“I think this piece of legislation is about as weak and senseless as anything that has ever come on this Senate floor,” said Reid. “I am not going to waste the Senate's time day after day on this piece of legislation.”

Reid said he was fairly certain the Democratic-controlled chamber would reject the legislation.

“I feel confident that this legislation will be disposed of one way or the other,” Reid said. "The American people should understand that this is a bad piece of legislation, perhaps some of the worst legislation in the history of this country."

The measure would cut spending by $111 billion in 2012, cap spending over the next decade and prohibit more borrowing until Congress passes a balanced-budget amendment to the Constitution.

Reid also suggested that senators get any speeches or debate they want on the bill out of their systems tonight or tomorrow morning because he plans to shorten its percolation period.

"Come and debate to your heart's content," said Reid. "If they want to debate it late tonight, we're here to do it late tonight."