UPDATED: 10:43 a.m. ET

House Republicans look ready to reject a pending bipartisan compromise in the Senate and propose their own plan for re-opening the government and raising the debt limit.

Here are the details of the new House bill that the leadership presented to Republican members at a closed door meeting Tuesday morning, according to multiple House GOP sources.

Temporary spending bill to re-open the government until Jan. 15.

Increase the debt limit enough to last until Feb. 7.

A two-year delay of Obamacare’s medical device tax.

A requirement that the Obama administration verify the income of Americans receiving tax subsidies through Obamacare (specifics pending).

A revised version of the so-called Vitter Amendment, in this case requiring Congress members and executive department officials like President Obama — but not their staffs — to purchase insurance through the law’s marketplace without federal employer subsidies.

Eliminates Treasury Department’s ability to use “extraordinary measures” to avoid default.

The House is expected to vote on the bill today.

It’s effectively a counteroffer to the deal brewing between Senate Majority Leader Harry Reid (D-NV) and Senate Minority Leader Mitch McConnell (R-KY) in the other chamber. It has a few similarities — most importantly, the dates for funding the government and raising the debt limit appear roughly the same — but some key differences.

It adds the medical device tax delay and revised Vitter amendment. It also removes a reported element of the Senate deal, which would have delayed Obamacare’s reinsurance tax, a change that Senate Democrats sought in exchange for the income verification piece.

Senate Republicans, who were scheduled to meet at 11 a.m. ET to review the Reid-McConnell proposal, moved their meeting to 12:30 p.m. ET as news of the House GOP’s plan broke.