GOP plan would raise debt limit until January

A trio of centrist Senate Republicans is pushing a plan to reopen the government for six months, extend the debt ceiling until Jan. 31, 2014 and make reforms to ObamaCare.

Sen. Susan CollinsSusan Margaret CollinsOvernight Defense: Trump faces blowback over report he discussed leaving NATO | Pentagon extends mission on border | Senate advances measure bucking Trump on Russia sanctions Senate advances measure bucking Trump on Russia sanctions Mnuchin meets with Senate GOP to shore up ranks on Russia sanctions vote MORE (R-Maine) is spearheading the proposal along with Sens. Kelly AyotteKelly Ann AyotteFive possible successors to Mattis Mattis resigns, says views aren't in line with Trump's Election Countdown: O'Rourke brings in massive M haul | Deal on judges lets senators return to the trail | Hurricane puts Florida candidates in the spotlight | Adelson spending big to save GOP in midterms MORE (R-N.H.) and Lisa MurkowskiLisa Ann MurkowskiLeaders nix recess with no shutdown deal in sight McConnell: Senate will not recess if government still shutdown Kaine threatens to object to Senate leaving for recess MORE (R-Alaska).

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It would address Tea-Party conservatives concerns over Medicare by delaying the medical device tax for two years and creating an income verification program under the Affordable Care Act to ensure only eligible individuals receive subsidies on the insurance exchanges.

The delay of the Medical Device Tax would be paid for by extending pension smoothing provisions contained in the highway transportation bill, MAP-21, that Congress passed in 2012. Pension smoothing allows the government to spread out pension losses over extended time periods.

Many Republicans, however, called for a full repeal of the tax.

An amendment repealing the device tax passed the Senate earlier this year by a vote of 79 to 20.

The plan would fund the government at an annual rate of $986 billion for six months and extend the debt limit until the end of January. 

It would also create a Senate-House conference on the budget and instruct conferees to report their work by Jan. 15, 2014. This element of the proposal, however, is still under discussion.

The Senate will vote Saturday on a clean 14-month extension of the debt limit sponsored by Senate Majority Leader Harry ReidHarry Mason ReidHarry Reid knocks Ocasio-Cortez's tax proposal: Fast 'radical change' doesn't work Overnight Defense: Trump rejects Graham call to end shutdown | Coast Guard on track to miss Tuesday paychecks | Dems eye Trump, Russia probes | Trump talks with Erdogan after making threat to Turkey's economy Harry Reid on Iraq War vote: 'It tainted my heart' MORE (D-Nev.). Republicans are expected to block it.

This story was corrected at 11:13 a.m.