House Speaker Kevin McCarthy is studying the history books and considering the appointment of a mix of lawmakers and business leaders as he lays the groundwork for a new commission to tackle the nation’s growing debt.
McCarthy is fresh off his biggest political victory since becoming speaker in January. He got the White House to negotiate on a bill that suspends the debt ceiling into January 2025 while also producing a projected $1.5 trillion in deficit savings over the coming decade.
The landmines confronting the commission are legion. Even if McCarthy can get something through the House, the commission’s clout would be diminished without Senate participation and White House buy-in. And any findings from the effort could come during a presidential election year — an unfavorable political climate for a proposal that is likely to ask for some sacrifice from the voting public.
Womack said he isn’t calling for Congress to “cut a lot of these programs, but we do have to make these programs sustainable in the future.” But Sen. Ron Wyden, the Democratic chair of the Senate Finance Committee, said he sees it as a way for Republicans to pursue “ideological trophies.” The committee’s recommendations gained the support of most of its members, but fell three votes short of the 14-vote threshold required to send the package to Congress for an up-or-down vote.
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.
Ross Douthat: Kevin McCarthy has a rare quality for a Republican House SpeakerRoss Douthat: Part of what has gone wrong with American institutions lately is the failure of important figures to regard their positions as ends unto themselves.
Read more »
Speaker Kevin McCarthy, Nebraska lawmakers unveil Willa Cather statue in CapitolHouse Speaker Kevin McCarthy on Wednesday unveiled a bronze sculpture of novelist Willa Cather of Nebraska, hailing it as a “fitting addition” to National Statuary Hall and the first statue in the ornate Capitol room crafted by a Black artist.
Read more »
Republican Insurgents Force Speaker Kevin McCarthy to Cancel VotesHouse Speaker Kevin McCarthy canceled the rest of the votes planned for this week after failing to resolve a standoff with Republican insurgents who charge he violated a January agreement with them that cleared the path for him to win his job
Read more »
GOP conservatives shutter House to protest McCarthy-Biden debt deal, setting up next budget brawlSpeaker Kevin McCarthy is suddenly confronting a new threat to his power.
Read more »
GOP conservatives shutter House to protest McCarthy-Biden debt deal, setting up next budget brawlSpeaker Kevin McCarthy is suddenly confronting a new threat to his power
Read more »