House Approves Cut, Cap and Balance Bill


The U.S. House of Representatives on Tuesday voted to pass the Cut, Cap and Balance plan, but the bill is not expected to pass in the Senate.

The bill imposes caps on federal spending as a percentage of GDP. It also allows for an increase in the debt ceiling by $2.4 trillion in exchange for both the Senate and House passing a balanced budget amendment.

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The vote was 234 to 190.  Nine Republicans voted no, including Rep. Michele Bachmann (R-MN), while five Democrats sided with Republicans.

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