WASHINGTON -- Senate Majority Leader Harry Reid (D-Nev.) unveiled a new debt-limit bill Friday night that strongly resembles a plan first suggested by his rival, Senate Minority Leader Mitch McConnell (R-Ky.).
The bill would cut the deficit by about $2.4 trillion over 10 years, and hike the debt ceiling by the same amount -- a key one-to-one match demanded by Republicans. It also includes a three-step process first proposed by McConnell that would let the president take responsibility of debt-limit increases.
But one item it did not contain -- and which a number of fence-sitting Republicans have hinted could ease them into a vote -- was some sort of "trigger."
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