House Republicans have narrowly passed a sweeping debt ceiling package as they try to push President Biden into negotiations on federal spending
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...
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. Republicans also agreed to more quickly launch the bolstered work requirements for recipients of government aid, starting in 2024 as proposed by another holdout, Freedom Caucus' Rep. Matt Gaetz, R-Fla. — who has led previous challenges to McCarthy and ultimately voted against the bill.
But as McCarthy worked to shore up support, some of the most conservative rank-and-file Republican members who have never voted for a debt ceiling increase in their quest to slash spending said they were preparing to do just that, rallying behind the speaker's strategy to push Biden to the negotiating table.
In exchange for raising the debt limit by $1.5 trillion into 2024, the bill would roll back overall federal spending and:— Impose tougher work requirements for recipients of food stamps and other government aid.— End many of the landmark renewable energy tax breaks Biden signed into law last year. It would tack on a sweeping Republican bill to boost oil, gas and coal production.
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