BREAKING: Republicans to Vote on $2.4 Trillion in Cuts With Debt Ceiling Increase

Katie Pavlich

7/15/2011 10:46:00 AM - Katie Pavlich

The Wall Street Journal is reporting House Republicans will vote next week to cut $2.4 trillion over the next ten years while increasing the debt ceiling by a $2.4 trillion. 

House Republicans said Friday that they planned to vote next week on a proposal to raise the debt ceiling by $2.4 trillion, with matching cuts and guidelines to control future government spending.

House Majority Leader Eric Cantor (R., Va.) said at a news conference Friday that the House next week would vote on a "cut, cap and balance" approach. The House plans to separately vote on a measure that would amend the U.S. Constitution to require the federal government to balance its budget.