Without a ceiling, pay plans typically allow senior officers to receive up to twice as many shares, even when there is a negative shareholder return.
But from 1 June, new borrowers, or current ones who switch deals, will have to revert to an SVR without any ceiling, currently set at 3.99%.
"To raise the debt ceiling without dealing with the underlying problems is totally irresponsible, " Mr. Boehner said.
For its first 128 years as a republic, the United States was able to function without a debt ceiling.
Rep. Louie Gohmert, R-Texas, also disagreed with giving up the leverage of the debt ceiling without any guaranteed spending cuts in return.
Clearly, we support extension of the debt ceiling without drama or delay.
He wants Republicans to the raise the ceiling without conditions.
Raising the debt ceiling without a big fuss will allow a more rational debate about spending and taxing and the size of the deficit and the additions to total debt.
The party's leader in the Senate, Mitch McConnell, has aired a convoluted last-ditch plan that would avert a default by letting Mr Obama increase the ceiling even without a spending agreement between the parties, provided he makes cuts of the same size.
The measure represents the latest in a series of Republican concessions on spending and debt issues, with House Speaker John Boehner, R-Ohio, and his leadership team proposing the debt ceiling increase without any spending cuts they had previously demanded to offset the cost.
Since then, Congress has voted to raise the ceiling 74 times without a single reduction.
Without a boost in the ceiling, the federal government will be unable to pay its bills, including pay to federal employees.
FORBES: Reputable Conservative Economists Recognize the Danger of the Debt Ceiling
Without Republican forbearance the debt ceiling expiring at the end of February will force the US into a costly default, whereas Republican donors have already dodged much of the tax increase they were facing.
Both Congress and the President readily admit that without an increase in the debt ceiling, the government will default on its obligations.
Congress has to raise the debt ceiling and do it without drama.
Without a deal to raise the debt ceiling, the US would have been unable to meet all its bills, the treasury department had warned.
We continue to call on them to act without drama or delay to deal with the debt ceiling, to deal with its responsibility.
The question is, with most of the GOP already deeply invested in using the debt ceiling as leverage to force a spending reduction without ridding our tax code of perverse elements of corporate welfare, can they still be brought back from the brink?
If Congress is concerned, as it should be, about not showing any indication of allowing a default, then it would be best to act without drama or delay when Congress returns to raise the debt ceiling.
Without any action from Congress, the government will hit the debt ceiling by mid-February.
FORBES: As We Creep Closer To The Debt Ceiling Limit, Is Your Tax Refund At Risk?
Women like my grandmother who worked in a bank all her life, and even after she hit that glass ceiling, kept getting up and giving her best every day, without complaint, because she wanted something better for me and my sister.
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