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House GOP backs off default threat

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Still, Boehner’s plan was gaining traction with lawmakers, who said they have learned they have greater strength if they remain united.

“We all know this is an important 90 days,” said Rep. Tom Cole, R-Okla., a Boehner ally. “It’s important for the country, it’s important politically, I think, in terms of how we’re regarded in the country.”

If the House approves a debt-ceiling extension, the next budget deadline would occur March 1, when $1.2 trillion in automatic spending cuts are scheduled to begin taking effect. Republicans believe they have leverage over Obama in a fight over those cuts, known as a sequester, because he opposes the idea of slashing deeply across Pentagon and domestic accounts.

A second deadline would come on March 27 when the law funding government agencies expires. If Congress fails to pass a new appropriations law by then, government departments would have to shut down.

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