Today, the House of Representatives is expected to vote on a plan from House Speaker John Boehner to raise the debt ceiling and cut spending. The plan comes after months of wrangling over how to increase the limit. However, many Republicans are still unhappy with the plan. Politico reports that the proposal does not yet have enough support to pass, though House leadership expects to be able to shore up enough votes throughout the day to push it through.

Even if the plan does pass the House, it is not expected to be approved by the Senate. Meanwhile, Senate Majority Leader Harry Reid has introduced a competing proposal to raise the debt limit.

Speaker Boehner’s plan would initially increase the debt ceiling by $900 billion and cuts spending by $917 billion according to a Congressional Budget Office analysis. The proposal also would create a joint Congressional Committee to propose $1.8 trillion in further cuts. If these deficit reduction measures were made law, they would by accompanied by a $1.6 trillion increase in the debt ceiling.

Click here for our fact sheet on the House Speaker’s plan.

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