A senior House GOP leadership aide has just told me there is a new version of the Boehner bill. “The balanced budget amendment is added to the second step.” What that means is entirely unclear, and no detail was revealed. Perhaps a simple promise for a vote? If it is the requirement for passage of the BBA, that’s a total non-starter. The aide predicted confidently on the votes: “We’ll definitely get there.” We’ve heard that before, but there is a glimmer of hope, and realism, in the House this morning
UPDATE, 11:35 a.m.: The speaker has released the following summary of the revised bill. Aides refused to explain how this would possibly get through the Senate:
The bill currently has a two-step process for raising the debt ceiling.
As currently written, before POTUS can request second tranche of increased debt authority, Select Committee must produce spending cuts larger than the debt hike.
Change to the bill would specify that before POTUS can request second tranche of debt authority, Select Committee must produce spending cuts larger than the hike AND a Balanced Budget Amendment must be sent to the states.