Senate Minority Leader Mitch McConnell has signed on to co-sponsor the Cut, Cap, Balance Act, The Daily Caller has learned.
A group of Republican Senators introduced the legislation last week. The bill is the legislative embodiment of the Cut, Cap and Balance Pledge that began floating through the halls of Capitol Hill last month. It seeks to tie a vote on the debt limit to spending cuts and caps, and the passage of a balanced budget amendment.
The bill now has 32 co-sponsors in the Senate, including Sens. Mike Lee of Utah, Jim DeMint of South Carolina, and Rand Paul of Kentucky. No Democrat has signed on yet.
In the beginning, those pushing the pledge were skeptical that Republican leadership would sign on. McConnell, in fact, never signed the pledge itself. The Cut, Cap, Balance Act, at the time, represented a clear divide between the GOP establishment and freshmen and ?Tea Party? members of Congress. (McConnell proposal on debt limit prompts swift backlash from conservatives)
Earlier this week, McConnell drew the ire of many conservatives by proposal a contingency plan if a deal on the debt limit is not reached. McConnell?s plan give to President Obama the authority to demand an increase to the debt ceiling unless Congress votes to block the request.
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