JUST IN: House Republicans have passed a sweeping debt ceiling package as they try to push President Biden into negotiations on federal spending.
WASHINGTON — House Republicans passed sweeping legislation Wednesday that would raise the government's legal debt ceiling by $1.5 trillion in exchange for steep spending restrictions, a tactical victory for Speaker Kevin McCarthy as he challenges President Joe Biden to negotiate and prevent a catastrophic federal default this summer.
"Happy to meet with McCarthy, but not on whether or not the debt limit gets extended," Biden said."That's not negotiable." Facing a revolt from Midwestern Republicans over doing away with biofuel tax credits that were just signed into law last year by Democrat Biden, GOP House members relented and allowed the tax credits to stay on the books in their bill.
"This bill is unacceptable, it's unreasonable, it's unworkable, it's unconscionable — and it's un-American," said the Democratic leader Hakeem Jeffries of New York."That's why we oppose it." It's a first big test for the president and the Republican speaker, coming at a time of increased political anxiety about the ability of Washington to solve big problems amid the need to raise the federal debt limit in a matter of weeks.
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House Republicans pass US debt bill, push Biden on spendingHouse Republicans have passed a sweeping debt ceiling package as they try to push President Biden into negotiations on federal spending. It's the start of efforts to avoid a potentially catastrophic government debt default this summer. Biden has threatened to veto the bill over the budget limits that are attached. The president says he's happy to talk with Speaker Kevin McCarthy, but will not negotiate over America's legal debt obligations. The Republican plan would raise the debt ceiling by $1.5 trillion in exchange for steep spending restrictions that Democrats oppose. The White House insists the debt ceiling must be lifted with no strings attached to ensure America pays its bills.
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House Republicans pass US debt ceiling bill in bid to push Biden to negotiationsHouse Republicans passed sweeping legislation that would raise the government’s debt ceiling by $1.5 trillion in exchange for steep spending restrictions, a tactical victory for Speaker Kevin McCarthy as he challenges President Biden to negotiate.
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