Reid, McConnell to introduce sequester alternatives after recess

Senate Majority Leader Harry Reid (D-Nev.) announced Thursday night that he and Minority Leader Mitch McConnell (R-Ky.) would introduce a sequester replacements when the Senate returns from recess in 10 days.

“I’ve had meetings with Sen. McConnell and we’re each going to have a piece of legislation to hold the sequester from kicking in,” Reid said on the floor Thursday.

Reid and other Democrats announced their plan to replace the sequester with $55 billion of spending cuts and $55 billion of revenue increases earlier Thursday.

Reid said the motions to proceed to these bills would be in order the same day they are introduced, which is expected on Monday, Feb. 25, or Tuesday, Feb. 26.

If lawmakers don’t act to replace $85 billion in automatic spending cuts, they will take effect on March 1.

Democrats have called for replacing the sequester with some spending cuts and some revenue by closing tax loopholes, but Republicans have refused to consider any more tax revenue.

House Republicans, who voted twice to replace the sequester last year, have said it's up to the Senate to initiate action now, but the Senate is in recess next week, leaving only one week for lawmakers to act.

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