The US House of Representatives will vote on its own bill to end a Government shutdown and debt ceiling standoff. Republican lawmakers said today just two days before Washington exhausts its borrowing authority. The Republican plan is similar to a measure being worked out in the Senate which would fund Government through January 15 while extending the debit ceiling to February 7, according to Congressman Darrel Issa. But he said the House bill will include provisions aimed at chipping away at President Barack Obama's health care law by delaying for two years a medical device tax that helps fund the reforms. Any deal would have to be approved by both the House and the Senate before being signed by the President. If the debt ceiling is not raised by Thursday deadline, the United States may not be able to pay all its bills. President Barack Obama said this would be a catastrophe for the world economy. Meanwhile, China and Japan, which between them hold more than 2.4 trillion dollars of US debt, have urged Washington to get its house in order. Bank of France Governor Christian Noyer warned of dire consequences if there was no solution.