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Posted at 06:00 AM ET, 08/01/2011

One day until the debt deadline: The day ahead on the Hill


(Brendan Smialowski - GETTY IMAGES)

Monday represents a make-or-break day in the negotiations on raising the country’s debt ceiling. With one day remaining until the deadline to raise the federal borrowing limit or else face default, leaders in both chambers are met with the daunting task of rounding up support among rank-and-file members, some of whom have already expressed skepticism about the agreement.

Here’s a look at what’s on the schedule today (although the day’s events are likely to change as the debt-limit developments warrant):

The House is in at 10 a.m., with first votes possible at noon. On the agenda are four non-controversial votes under suspension of the rules; the House is also likely to consider the debt-ceiling bill, according to House Majority Leader Eric Cantor’s (R-Va.) office.

In the late morning and early afternoon, the parties in both chambers are holding caucus meetings to work through the debt-ceiling framework. In the Senate, which comes in at 10:30 a.m., Democrats and Republicans will meet separately at 11 a.m. (Democrats in the Mansfield Room off the Senate floor, Republicans in the LBJ Room).

House Republicans and Democrats will hold meetings in the afternoon, as well, likely at noon. The Congressional Black Caucus may hold a news conference later in the afternoon after a 1 p.m. meeting on the debt-ceiling developments.

Senators will wrap up their party lunches around 12:30 p.m. and resume consideration of the debt-limit legislation. After 2 p.m., the Senate could vote on ending debate on the debt-ceiling bill, setting up a final-passage vote for later Monday.

Assuming there are no snags in either chamber — and that’s a fairly big assumption to make — the House could then potentially take up the debt-ceiling bill as early as Monday night.

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By  |  06:00 AM ET, 08/01/2011

 
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