House Republicans have confirmed their policy priorities in passing legislation that they plan to use in debt-limit negotiations. Since winning a majority in the midterm elections, they have promised to use a debt-limit bill as leverage to achieve their goals. The bill, championed by House Speaker Kevin McCarthy, would raise the limit on government borrowing through next year, reel back President Biden’s climate agenda, and force sweeping, unspecified spending cuts. The House approved the bill in a close vote, 217-215, with no Democratic support. However, the bill is unlikely to pass in the Senate, which Democrats control, and President Biden has already stated that he would not sign it. Despite this, Republicans hope that it will push Democrats to negotiate. “We lifted the debt limit; we’ve sent it to the Senate; we’ve done our job,” McCarthy said. The stakes are high, as breaching the debt limit could force the U.S. to default on its debts.
2023-04-27 05:35:58
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