By Bernie Becker - 07/28/11 02:32 PM EDT
House GOP leadership is furiously trying to line up support on the Boehner plan, which is currently scheduled for a high-stakes vote around 6 p.m. Thursday. The Congressional Budget Office announced on Wednesday that the Speaker’s framework would cut spending by $917 billion while allowing a $900 billion hike in the $14.3 trillion debt ceiling.
As it stands, conservative groups like the Club for Growth and more business-oriented outfits like the U.S. Chamber of Commerce have divided over the Boehner plan, with business groups more apt to support it.
When it came out against the Boehner plan on Tuesday, the Club for Growth said it was far inferior to measures like the “cut, cap and balance” plan the House passed last week. In its Thursday reminder, the group noted that the hike in the debt limit was immediate, while the spending cuts lined up were spaced out over a decade.
The Treasury Department has said Congress has just days left to raise the debt limit, setting an Aug. 2 deadline. Senate Majority Leader Harry Reid (D-Nev.), who has his own plan to raise the ceiling, has said that Boehner's framework is a no-go in his chamber.