Republicans have said the measure is a gimmick that would not lead to real savings, and they have called on Democrats to focus on cutting waste.

Earlier today, Senate Minority Leader Mitch McConnellMitch McConnellThis week: GOP picks up the pieces after healthcare defeat The Memo: Winners and losers from the battle over healthcare GOP senators pitch alternatives after House pulls ObamaCare repeal bill MORE (R-Ky.) said Reid's bill goes against President Obama's preferred plan of replacing the sequester with new taxes.