REUTERS – Republicans will bring a “clean” bill to raise U.S. borrowing authority to the floor of the House of Representatives on Wednesday with the hope that Democrats will provide a significant number of votes for passage, according to a source familiar with the plan.
The plan, presented to House Republicans in a closed-door meeting on Tuesday, came after it became apparent there was not enough Republican support for a plan unveiled late on Monday that would have coupled a debt limit increase with the repeal of a pension benefit cut for military retirees.
President Barack Obama and his fellow Democrats in Congress have been demanding an unconditional debt limit increase.
UPDATE: CONFIRMED by Boehner:
REUTERS – Republican leaders in the U.S. House of Representatives on Tuesday caved in to demands by President Barack Obama and agreed to advance legislation raising Washington’s borrowing authority without conditions.
House Speaker John Boehner, announcing to reporters the plan to advance a “clean” debt limit bill to the House floor on Wednesday, said: “we’ll let the Democrats put the votes up. We’ll (Republicans) put a minimum number of votes up to get it passed.”