2 New Debt Plans, 0 Resolution
(The Hill) — House Speaker John Boehner (R-Ohio) and Senate Majority Leader Harry Reid (D-Nev.) late Monday released dueling budget plans, and each took steps to move their competing plans ahead this week. In the House, Boehner introduced his Budget Control Act of 2011 in the form of a substitute to S. 627, the Faster FOIA Act. The House Rules Committee is expected to approve debate rules for that bill Tuesday afternoon. Boehner’s bill would set 10-year discretionary spending caps that reduce spending by $1.2 trillion over 10 years. It would require across-the-board spending reductions and the sequestration of funds in order to meet these caps.