The House takes one of the final steps towards passing a budget for fiscal year 2011. After weeks of bargaining and high drama, the chamber is set to move forward on a procedural vote that sets the bill, which cuts $38 billion in spending from current levels, on a path towards final passage on Thursday.

The House Rules Committee meets in the afternoon to set the process in motion to vote on a 2012 budget resolution. The measure, authored by Budget Committee Chairman Paul Ryan, R-Wisc., represents the GOP's initial offering in what is sure to be a knock down drag out budget battle in the months ahead.

Congressional Progressives will offer an alternative to the Ryan budget at a 12:00 p.m. ET news conference. The group contends that the Republican's plan relies too heavily on spending cuts to reduce the deficit.

Entitlement reform is likely to be part of any financial compromise in the month ahead. Republican Senators Rand Paul, Mike Lee, and Lindsey Graham plan to introduce a reform proposal for the Social Security pension program at an 11:00 a.m. ET news conference. According to press reports, the bill raises the retirement age and institutes means testing for benefits.

As the Arab Spring continues, the Muslim Brotherhood appears to grow in stature throughout the Middle East. Do they have a place in an emerging democratic society? A House Select Intelligence subcommittee investigates the matter at a 2:00 p.m. ET hearing

We'll be covering all these stories and more, so be sure to stay with Fox News for all the latest.