UPDATE: U.S. House panel postpones hearing on fiscal bill


Updated 6:25 p.m., ET | According to a committee aide, a panel that was scheduled to debate U.S. House of Representatives bill to raise the debt limit and temporarily fund federal agencies has been postponed.

Updated 4:52 p.m. ET |

Updated 2:39 p.m. ET | AP: Their backs against the wall, House GOP leaders scrambled Tuesday to forge a plan to counter an emerging bipartisan Senate deal to reopen the government and forestall a default on U.S. obligations.

But the effort fell into disarray amid grumbling by party conservatives and it was unclear whether GOP leaders could keep it afloat – even as the potential peril to the U.S. economy deepened with a debt deadline less than two days away.

Updated 11:44 a.m. ET | “There are a lot of opinions about what direction to go. There have been no decisions about what exactly we will do,” House Speaker John Boehner said

Updated 11:39 a.m. ET | “Let’s be clear, the House legislation will not pass the Senate,” Sen. Harry Reid said, speaking from the Senate floor.

A White House spokeswoman sends over a response to the latest proposal from the House Republican Conference, calling it partisan and asking the House to follow the Senate’s lead on a compromise deal in the works.

Here’s the statement from Amy Brundage:

“The President has said repeatedly that Members of Congress don’t get to demand ransom for fulfilling their basic responsibilities to pass a budget and pay the nation’s bills. Unfortunately, the latest proposal from House Republicans does just that in a partisan attempt to appease a small group of Tea Party Republicans who forced the government shutdown in the first place. Democrats and Republicans in the Senate have been working in a bipartisan, good-faith effort to end the manufactured crises that have already harmed American families and business owners. With only a couple days remaining until the United States exhausts its borrowing authority, it’s time for the House to do the same.”

H/T Christina Bellantoni