WASHINGTON (AP) — The White House threatened Tuesday to veto legislation pending in the House of Representatives to avert a threatened default, a pre-emptive strike issued as Republican leaders of the lower chamber labored to line up enough votes to pass the measure.
House Speaker John Boehner faced criticism from some conservatives in advance of an expected vote on Wednesday.
The bill would raise the debt limit by $1 trillion while making deep cuts to federal spending of $1.2 trillion — an amount that conservatives say is insufficient.
The measure also would establish a committee of lawmakers to recommend additional savings of $1.8 trillion, which would trigger a $1.6 trillion increase in the debt limit if enacted.
The White House objects to the requirement for a second vote before the 2012 elections.