Reid refuses to back Gang plan, open to using parts

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He noted he has been told that it takes two weeks alone for the Congressional Budget Office to score mandatory spending cuts he wants to put in the fallback plan.

Reid said it would be a “stretch” to say President Obama has “embraced” the Gang of Six plan. “He had a conversation with one of the members of the Gang of Six; he is very interested in what it does, but the president knows, as I have explained to him many different times, the problems we have with time around here.”

Senate Minority Leader Mitch McConnellMitch McConnellMcConnell: Trump needs to act like a 'serious candidate' Overnight Finance: Wall Street awaits Brexit result | Clinton touts biz support | New threat to Puerto Rico bill? | Dodd, Frank hit back The Trail 2016: Berning embers MORE (R-Ky.) said Tuesday he just learned of the Gang details Tuesday and is still undecided on whether to support it. "We'll be looking at that as we move forward," he said.

McConnell, who is negotiating the fallback with Reid, would not say whether it can be part of a debt-ceiling increase.