Sixty votes will be needed to proceed on the bill.
By late Thursday, there were signs that President Obama and House Speaker John Boehner (R-Ohio) were trying to work out a last-minute deal on the debt ceiling that would include immediate spending cuts and possible tax increases next year.
Reid himself on Thursday was scrambling to catch up on details about this possible agreement.
In the meantime, the House also meets early, at 9 a.m., to finish work on amendments to the 2012 Legislative Branch Appropriations Act. Members debated several amendments last night, including language that would slash the Office of Congressional Ethics and prohibit the use of funds to buy compact fluorescent lamps (CFLs).
Another to be debated this morning would prohibit the use of funds to buy polystyrene containers in the food service facilities of the House.