NEW: Kevin McCarthy says the House will vote on a bill to raise the debt ceiling through 2023 and cut government spending.
What he’s saying:
“In the coming weeks, the House will vote on a bill to lift the debt ceiling into next year,” McCarthy said in a speech to the New York Stock Exchange. He said the bill will also “save taxpayers trillions of dollars, make us less dependent on China, and curb high inflation, all without touching Social Security or Medicare.”The legislation is not expected to have the Democratic support needed to pass the Senate – much less be signed by President Biden.
Instead, McCarthy is trying to strengthen his hand with the White House by showing his conference can come together and pass something. “I want to sit down and solve the problem together,” McCarthy said as he called for the White House to rejoin talks.
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