Days before the March 1 deadline, Senate Republicans are circulating a draft bill that would cancel $85 billion in across-the-board spending cuts and instead turn over authority to President Barack Obama to achieve the same level of savings under a plan to be filed by March 8.
The five- page document, which has the tacit support of Senate GOP leaders, represents a remarkable shift for the party. Having railed against Senate Democrats for not passing a budget, Republicans are now proposing that Congress surrender an important piece of its Constitutional "power of the purse" for the last seven months of this fiscal year.
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