House Speaker John Boehner, battling resistance from within his own party as he intensifies a debt-ceiling standoff with President Barack Obama, worked to salvage his plan to tie the nation's borrowing power to spending cuts and budget controls.

With less than a week before a possible default, the Republican-led House remained on a collision course with the Senate and White House.

Even as he hunted for votes to pass his two-step proposal for raising the debt-limit — which the White House said Obama would veto — Boehner was forced to postpone today's scheduled action on it. That followed an analysis by Congress's official budgetary scorekeeper that fueled fiscal conservatives' concerns the measure wouldn't slash enough from federal spending.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.