House Speaker John Boehner said the House would pass his plan to raise the debt ceiling today, giving the "Senate no more excuses for inaction." Boehner, who has been twisting arms to get conservative Republicans to sign onto the bill, described the legislation as a "sincere and honest effort to end this crisis in a bipartisan way" that fulfills the GOP's promise to not raise taxes and to cut spending a larger amount than the debt limit is raised. "Harry Reid can't have it both ways," Boehner said. "The president has asked us to compromise and we have compromised." But ahead of Boehner's press conference, Reid, the Senate majority leader, said that he would defeat the bill Thursday night.
...[A]ssuming it fails, immediately take up either Mr. Reid's bill as a substitute for the House bill--a procedural move that allows it to be voted over the course of the weekend rather than Monday--or perhaps, some form of a compromise measure drafted with Republican senators, for a Saturday vote.Alternatively, Mr. Reid could begin the procedural clock on his own bill on Thursday, requiring votes on Saturday and Monday, dragging the process out further.