After saying there would be a vote Tuesday night, House Speaker John Boehner and the GOP leadership pulled legislation to avert a default and end the government shutdown. It's not clear why the scheduled vote collapsed.
House GOP leaders came up with the plan Tuesday morning in response to a bipartisan deal being worked out in the Senate and supported by the president.
Democrats blasted the new GOP plan, while Republican leaders called it a step forward.
"We're going to continue to meet with our members on both sides of the aisle to try and make sure that there's no issue of default and get our government reopened," Boehner said.
"Why are they doing this to the American people? Sabotaging a good faith bipartisan effort coming out of the Senate, wasting the public's time and in this case, time is money," House Minority Leader Nancy Pelosi said.
A vote on the Senate plan remains on hold right now. Meantime, Fitch, one of the country's three major credit rating agencies signaled Tuesday that it could downgrade the US credit rating if a deal isn't done by Thursday.