The plan Senator Collins will announce... UPDATE: Senate Dem leaders reject it.

[BluegrassStateBlues]

The bill would also delay Obamacare’s tax on medical devices for two years, while replacing the lost revenue by altering the way pensions are calculated. It would give increased autonomy to the heads of federal agencies under the constraints of sequester spending levels and provide funding increases for fire suppression, a key item for Sen. John McCain (R-Ariz.).

But the clock is the biggest enemy for all sides. It’s unclear if a deal brokered by the Senate could come together before Thursday, when the $16.7 trillion debt limit must be boosted, according to Treasury Secretary Jack Lew. House Republican leadership sources say their offer of a six-week debt limit increase might regain favor if a Senate-brokered deal does not come together before that deadline.

The House goes out of session Saturday and will return Monday evening.

Read more: http://www.politico.com/story/2013/10/house-senate-saturday-session-government-shutdown-debt-ceiling-98218.html#ixzz2hWWTFhlB

UPDATE:

Manu Raju @mkraju
NEWS: Senate Dem leaders rejecting Collins plan, arguing it asks too much for too little. Focus now shifts to Reid and McConnell.

[Mass]

1. Though far from perfect, it would be a lot better than accepting the Ryan plan.

But can it pass the House? Will Boehner bring it to the floor?

[TDale313]

2. ...

"The bill would also delay Obamacare’s tax on medical devices for two years, while replacing the lost revenue by altering the way pensions are calculated."

Don't know the specifics, but that doesn't sound good to me.

[SDjack]

3. Wonder whose pension is reduced so the med device companies can get a tax break? nt

[BluegrassStateBlues]

5. Probably federal.

The thing is... even Sen. Warren wants this medical device tax gone... so it's probably going to be a casualty.

[summerschild]

6. Is she talking about chained CPI?

[TheKentuckian]

4. Go to hell, Susan

[gordianot]

7. What is truly frightening is she passes as a moderate Republican.

This will not end well.