McCarthy has warned that negotiators must come to an agreement on at least the broad parameters of a deal by this weekend if a bill is to have any chance of moving through both the House and Senate by June 1, the earliest date when the Treasury Department has warned of a default.
As I referred to "the political theatre event played in the Congress", I'm quite aware of this.I don’t know if the above two posts reflect awareness of the specific problem regarding raising the debt limit. — Wayfarer
Republicans’ proposal to rescind $71 billion in IRS funding pushed through by Democrats last year would cut projected tax receipts by $191 billion over the next decade, the nonpartisan Congressional Budget Office estimates.
The result: The government would find itself an additional $120 billion in the hole.
Republicans, who’ve campaigned hard against the IRS money since last summer, have mostly ignored the budget warnings, arguing they are trying to protect average Americans from zealous tax collectors.
As always, GOP cuts will worsen the deficit and benefit the wealthy while the GOP are bleating about 'cutting wasteful spending'. — Wayfarer
House Freedom Caucus members, such as Rep. Ralph Norman (R-S.C.), warn they won’t accept anything less than the House-passed bill [which Democrats have said repeatedly is DOA].
That leaves McCarthy with strikingly little room to maneuver.
The House bill cut discretionary spending to fiscal 2022 levels and then caps domestic discretionary spending to 1 percent growth over the next decade. It also expands work requirements for federal social aid programs and rescinds $30 billion in unspent COVID funding.
House Republicans are also pushing for energy permitting reform, measures to secure the U.S.-Mexico border and to block Biden’s plan to forgive $400 billion in student debt relief.
Biden is holding fast against many of the Republican demands, which Democrats warn would hurt American families across the nation by cutting an array of federal programs, expecting McCarthy will back down. l. — The Hill
Military Spending Emerges as Big Dispute in Debt-Limit Talks
President Biden has offered to freeze discretionary spending, including for defense. Republicans want to spend more for the military, and cut more elsewhere.
Republicans want to spend more for the military, and cut more elsewhere.
What’s frustrating is the obduracy of both parties on this matter. — Mikie
We should abolish the debt ceiling. — GRWelsh
“Not one Republican should vote for this bill,” Representative Chip Roy, a Texas Republican and influential member of the ultraconservative House Freedom Caucus, said at a news conference outside the Capitol. “We will continue to fight it today, tomorrow, and no matter what happens, there’s going to be a reckoning about what just occurred unless we stop this bill by tomorrow.”
Another member of the group, Representative Dan Bishop of North Carolina, said he considered the deal grounds for ousting Mr. McCarthy from his post, something that any one lawmaker can attempt thanks to a rule Mr. McCarthy agreed to while he was grasping for the votes for his job.
Two of the Rules Committee’s arch-conservative members, Mr. Roy and Representative Ralph Norman of South Carolina, could vote against allowing it to move forward, in a sharp rebuke to the speaker. If they were joined by another Republican on the committee, they could sideline the agreement before it even reached the floor.
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