WASHINGTON (dpa-AFX) - The U.S. House of Representatives Saturday cast a symbolic vote against a proposal put forward by Senate Majority Leader Harry Reid, D-Nev., aimed at cutting the deficit and avoiding a federal default. The proposal, which was brought up under House rules requiring a two-thirds majority to pass, failed by a vote of 246 against to 172 in favor.
Meanwhile, the White House has announced that Reid and House Minority Leader Nancy Pelosi will be meeting with Obama Saturday afternoon to consider the course forward.
The measure rejected by the House has not been officially approved by the Senate, making the vote a largely symbolic rejection of the proposal Reid has put forward. The proposal is aimed at raising the federal debt ceiling through 2013 while cutting federal deficits by more than $2 trillion.
If the federal debt ceiling is not raised by August 2, the federal government risks running short of funds, which could in short order lead to it defaulting on its debts or of being forced to avoid paying some obligations.
The House vote comes after House Speaker John Boehner's proposal eked to a narrow passage Friday, passing 280-210, but was swiftly killed in the Senate.
Even had the Ohio Republican Speaker's proposal cleared the Senate, President Barack Obama's advisors have recommended a veto of the proposal, which would require a renewed fight over the federal debt ceiling early next year.
The House rejection of the Reid proposal sets the stage for further intense negotiations between Democrats and Republicans in both House and Senate as they seek a measure that can pass both houses of Congress while also securing President Obama's signature.
Both Democrats and Republicans have engaged in an escalating war or rhetoric seeking to place blame on the other party for any ultimate federal default.
Reid's proposal, which Republicans have decried as using accounting gimmicks to achieve the needed savings, is scheduled for a procedural vote over the weekend.
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