Congress Set to Vote on ‘Cut, Cap and Balance’

The Takeaway

Later today, the House of Representatives will vote on the “cut, cap and balance”  plan being pushed by House Republicans as a prerequisite for raising the country’s debt ceiling. The plan is expected to pass in the House, where Republicans hold a majority, but will likely die in the Democrat-controlled Senate. President Obama has already said he will veto the bill. With the August 2 deadline just two weeks away, and the country’s financial standing hanging in the balance, why are Republicans and Democrats drifting further apart in their efforts to reach a compromise? Takeaway Washington correspondent Todd Zwillich  has the latest from Capitol Hill.

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