By a razor-thin 217-215 margin, House Republicans passed the bill that would raise the government's legal debt ceiling by $1.5 trillion in exchange for steep spending restrictions. “The president can no longer ignore by not negotiating,” McCarthy said.
Biden has threatened to veto the Republican package, which has almost no chance of passing the Democratic Senate anyway, and the president has so far refused to negotiate over the debt ceiling which the White House insists must be lifted with no strings toBut McCarthy’s ability to swiftly unite his slim majority and bring the measure to passage over opposition from Democrats and even holdouts in his own party gives currency to the Republican speaker’s strategy to use the vote as an opening bid...
The nation has never defaulted on its debt, and the House Republican majority hopes to maneuver Biden into a corner with its plan to roll back federal spending to fiscal 2022 levels and cap future spending increases at 1% over the next decade, among other changes.McCarthy worked nonstop to unite his fractious Republican majority, the “five families” including the conservative Freedom Caucus and others, making post-midnight changes in the House Rules Committee in the crush to win over holdouts.
Republicans hold a five-seat House majority and faced several absences this week, leaving McCarthy with almost no votes to spare. In the end the speaker lost four Republican no votes, and all Democrats opposed. Rep. Ralph Norman, R-S.C., a member of the Freedom Caucus, said he “wanted double” the deficit savings contained in the bill but would vote for it “because it starts the ball, it gets us in the arena to solve the debt problem.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
White House says Biden would veto House Republicans' debt ceiling billThe White House called the bill a 'reckless attempt to extract extreme concessions as a condition for the United States simply paying the bills it has already incurred.'
Read more »
McCarthy edges Republicans closer to House debt voteHouse Republicans are pushing their debt ceiling package toward a vote. The roll call could come as soon as Wednesday. Speaker Kevin McCarthy's team huddled with key holdouts late into Tuesday evening. He declined to say whether he had the majority votes needed for passage. Prospects for the sweeping package were buoyed by a nonpartisan Congressional Budget Office analysis showing the Republican plan would reduce federal deficits by $4.8 trillion over the decade if the proposed changes became law. It would lift the debt ceiling by $1.5 trillion into 2024 in exchange for steep budget cuts. President Joe Biden has threatened to veto the bill.
Read more »
House Republicans voting on their debt ceiling plan after McCarthy caves on last-minute compromiseHouse Republicans are set to vote on legislation that would raise the nation's debt limit while cutting federal government spending—an effort intended to force Democrats into negotiations.
Read more »
House Republicans pass debt ceiling bill after McCarthy concessionsHouse Speaker Kevin McCarthy (R-Calif.) on Wednesday mustered just enough votes to pass the House GOP proposal to raise the nation’s borrowing limit after several last-minute changes to appease Rep…
Read more »
House passes McCarthy’s debt ceiling bill by two votes, four Republicans vote againstHouse Republican negotiators have been meeting with defecting members through Tuesday and early Wednesday to get the votes necessary to pass the bill.
Read more »
House deputy whip praises passage of McCarthy debt deal after Democrats rip RepublicansChief Deputy Whip Guy Reschenthaler (R-PA) praised the House’s passage of the Limit, Save, Grow Act on Wednesday. He also took the opportunity to rip Democrats and blame them for the situation at hand.
Read more »