The right-wing House Freedom Caucus released its list of prerequisites for cutting the federal budget in order for its members to support raising the debt ceiling.
Clawing back funding for the IRS and climate change prevention in the Inflation Reduction Act.Requiring congressional sign-off on all major federal regulations before they can go into effect.The big picture:
The statement calls for significant across-the-board cuts in funding to federal agencies by capping spending at 2022 levels for the next 10 years. It's geared towards an eventual goal of balancing the budget – though Freedom Caucus Chair Scott Perry acknowledged the proposals don't quite reach the cuts needed to accomplish that.
"This is what we're willing to do with what's happening right now," Perry said at a press conference on Friday, adding that the current goal is "changing the trajectory" of the budget process to enable further cuts.Perry also expressed confidence that House Speaker Kevin McCarthy won't try to bypass their leverage by working across the aisle: "Speaker McCarthy is not going to cut a deal with Democrats.
"We're not assuming that leadership is opposed to these thing," he told reporters, "What is objectionable here? ... this is all reasonable stuff."
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