A bill that would have raised the nation's debt ceiling by $2.4 trillion failed to win the votes needed to pass the House on Tuesday, as House Republican leaders seek leverage in talks to reduce the deficit.
The measure was considered under suspension of the rules, which requires two-thirds of those voting to pass. The legislation failed 97 to 318 and was put on the floor by House GOP leaders to demonstrate that spending cuts must accompany any effort to raise the debt ceiling, which the Treasury Department said must be boosted by August 2.
“Today, we are making clear that Republicans will not accept an increase in our nation’s debt limit without substantial spending cuts and real budgetary reforms,” House Ways and Means Chairman Dave Camp, R-Mich., who sponsored the debt increase even though he opposes it., said during debate. “This vote, a vote based on legislation I have introduced, will and must fail,” Camp said
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