In a move that could head off another bruising battle over increasing the nation's debt ceiling, GOP leaders in the House plan to approve a three-month increase in the nation's borrowing authority next week, NPR's S.V. Date reports.
But, he tells our Newscast Desk, Republicans want to tie a longer-term increase to the passage of a budget that cuts spending.
His report continues:
"The plan comes from Majority Leader Eric Cantor as House Republicans wrap up a retreat in Southern Virginia.
The federal government hit its debt limit at the end of last year. Since then, the Treasury Department has been taking what it calls "extraordinary measures" to keep the government funded and avoid defaulting on U.S. obligations.
But those measures will run out sometime between the middle of February and early March. Then it's up to Congress to raise the debt limit.
House Republicans are wrestling with the best strategy at a retreat Thursday and Friday in Virginia. And some have been denying that there is a risk of default if the debt ceiling isn't raised.
From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.
We begin this hour with the end of President Obama's first term. He's got less than a week before next Monday's inauguration. This morning, he capped things off with an hour-long news conference in the White House East Room. As NPR's Ari Shapiro reports, most of the focus was on a rash of recent financial crises that Washington itself has created.