NEW YORK (

TheStreet

) -- The House of Representatives has postponed a vote that was set for 6 p.m. ET Thursday on a budget proposed by House Speaker John Boehner (R., Ohio) to cut spending and lift the debt ceiling.

House Whip Steny Hoyer (D., Md.) told lawmakers late Thursday that the vote was postponed until later this evening.

Even if the bill had been voted on and passed, Senate Majority Leader Harry Reid said he would bring the measure to the Senate floor for an immediate vote down.

Boehner spoke to the press on Thursday and warned detractors that the country needed their sincere and honest effort to avert a crisis.

House Speaker John Boehner

"When the House takes action today, the Senate will have no more excuses for inaction," Boehner said. "

The House will take action again ... on a solution to the problems that are facing our nation."

Boehner said that for the sake of jobs and the country, he hoped representatives and senators would pass his bill and end the crisis.

Said Reid: "As soon as the House completes its vote, the Senate will move to take up that bill, and it will be defeated tonight. No Democrat will vote for a short-term Band-Aid that would put our economy at risk and put the nation back in this untenable situation a few short months from now.

"Economists have said a short-term deal holds many of the same risks as a technical default. Democrats are not willing to put our economy on the line like that. Our economy and the financial markets desperately need stability. Speaker Boehner's bill does not provide it. It is time for Tea Party Republicans to stop resisting compromise. They must join Democrats and Republicans of good will in putting the good of our economy ahead of politics."

House Majority Leader Eric Cantor (R., Va.) challenged Reid (D., Nev.) and said that Senate Democrats had three choices: to suffer the consequences of default, to reintroduce the previous bill by House Republicans, or to accept the compromise of Boehner's bill being sent to the Senate on Thursday.

When asked by reporters if the House had enough votes to pass the bill, Majority Whip Kevin McCarthy (R., Calif.) said that they were on the right track.

-- Written by Joe Deaux in New York.

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