Senate Shoots Down Cut, Cap And Balance Bill

In a 51-46 vote, the Senate rejected the Cut, Cap and Balance measure Friday morning, making room for an alternative plan to be considered by Congress.

Senate Majority Leader Harry Reid (D-Nev.) had previously referred to the measure as “one of the worst pieces of legislation to ever be placed on the floor of the United States Senate.”

The measure was largely a symbolic vote by House Republicans who touted the plan as their solution to the nation’s growing debt. Now, GOP leaders are hoping the vote will provide comfort to their members when they are forced to vote on an alternative plan to raise the nation’s debt limit.

With Cut, Cap and Balance out of the way, Congress has room to take up a multi-trillion dollar, “grand bargain” deal or perhaps a contingency plan similar to that of Senate Minority Mitch McConnell’s (R-Ky.) to avoid a default on August 2.