Sen. Reid Moves for Thursday Vote on Replacing Spending Cuts

       By Siobhan Hughes 

    WASHINGTON--U.S. Senate Majority Leader Harry Reid (D., Nev.) attempted Tuesday night to break a logjam over across-the-board spending cuts, moving to hold a vote Thursday on replacing $85 billion in spending cuts with an alternative that shifts some of the burden of lowering the deficit onto the ultrawealthy.

    Mr. Reid moved to end debate on the measure, which would impose a 30% tax on very high earners. The goal is to set up a Thursday vote, a Senate Democratic aide said. The Senate Democratic aide also said Mr. Reid will allow a vote on a single Republican alternative, but not on multiple alternatives.

    Congress has become increasingly focused on the looming spending cuts as Friday nears. The spending cuts, which were mandated under a 2011 budget deal, begin on Friday. U.S. President Barack Obama has mounted a public campaign to warn of economic damage if the cuts take hold, hoping to pressure Republicans into accepting some tax increases. Republicans have held firm against tax increases, preferring a plan that would ensure the spending cuts are more targeted.

    Separately, the aide said the Senate hopes to vote Wednesday on confirming Jack Lew as U.S. Treasury secretary, but that Democrats are still seeking an agreement with Republicans to do so.

    Write to Siobhan Hughes at