Mr. Boehner’s Proposal

Calls for a total $3 trillion in spending cuts, while raising the debt ceiling by $2.6 trillion in two phases, with the second one before the 2012 election. The plan does not include tax increases, which are opposed by most Republicans.

First phase

• Cut discretionary spending by $1.2 trillion over 10 years, while raising the debt limit by $1 trillion immediately.

• Impose limits on future spending and set up a framework to automatically cut spending if those caps are breached.

• Require the House and Senate to vote on a balanced budget amendment by year’s end. The idea had already passed in the House as part of broader legislation but was rejected by the Senate.

Second phase

• Create a bipartisan committee to find another $1.8 trillion in savings next year. The committee’s proposal would not be subjected to amendment or Senate filibuster.

• Only after the committee’s plan is enacted, President Obama would be authorized to request a second debt limit increase of $1.6 trillion.