Reid files cloture on Democrats' sequestration alternative

Reid also allowed for Senate Minority Leader Mitch McConnellMitch McConnellRepublicans make M investment in Senate races Pelosi urges end to Pentagon's clawback of soldier overpayments Coffman’s stance on climate change disingenuous, irresponsible MORE (R-Ky.) to introduce a Republican alternative Wednesday.

The Democratic plan would avoid the $85 billion in automatic spending cuts set to take effect Friday, by raising nearly $55 billion in revenue through closing tax loopholes and cutting spending by an equal amount, though Republicans have said they are not willing to increase taxes.

If the Republicans decide to filibuster the Democratic plan, 60-votes will be needed for passage, meaning neither plan is likely to pass later this week.

Reid also said he hoped the Senate would begin consideration of Jack LewJack LewDem pushes Treasury for info on Syria sanctions Metlife battles ‘too big to fail’ designation Wyden seeks IRS info on firms linked to Panama Papers MORE to be the next Treasury Secretary on Wednesday. The Senate Finance Committee approved his nomination earlier Tuesday on a 19-5 vote.