The plan under discussion would raise the USD 16.7 trillion debt ceiling by enough to cover the nation's borrowing needs at least through mid-February.
Simultaneously, the legislation would also delay the ‘Obamacare' tax on medical devices for two years; cancel health-insurance subsidies for members of Congress, the President, Vice President and the cabinet; and beef up income verification requirements for Affordable Care Act subsidies.
“Our leadership team met with our members today trying to find a way forward in a bipartisan way that would continue to provide fairness to the American people under Obamacare. There are a lot of opinions about what direction to go. There have been no decisions about what exactly we will do,” John Boehner, Speaker of the House of Representatives said.
“But we're going to continue to work with our members on both sides of the aisle to try to make sure that there is no issue of default, and to reopen our government,” he said.
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