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Month: May 2023

Debt limit deal heads to vote in full House while McCarthy scrambles for GOP approval

Debt limit deal heads to vote in full House while McCarthy scrambles for GOP approval

By LISA MASCARO, KEVIN FREKING and STEPHEN GROVES (Associated Press)

WASHINGTON (AP) — Under fire from conservatives, House Speaker Kevin McCarthy worked furiously Tuesday to sell fellow Republicans on the debt ceiling and budget deal he negotiated with President Joe Biden and win approval in time to avert a potentially disastrous U.S. default.

Meeting behind closed doors over pizza for more that two hours at the Capitol, McCarthy walked Republicans through the details, fielded questions and encouraged them not to lose sight of the bill’s budget savings, even though they are far less than many conservatives wanted.

“We’re going to pass the bill,” McCarthy said as he exited the session.

The hard-fought measure is now headed to a House vote Wednesday. Quick approval by both the House and Senate would ensure government checks will continue to go out to Social Security recipients, veterans and others, and prevent financial upheaval worldwide by allowing Treasury to keep paying U.S. debts. read more

Here’s what’s in, what’s out of the debt limit bill to avert US default

Here’s what’s in, what’s out of the debt limit bill to avert US default

By KEVIN FREKING, FARNOUSH AMIRI and STEPHEN GROVES (Associated Press)

WASHINGTON (AP) — President Joe Biden and House Speaker Kevin McCarthy have been working the phones in an intense push to sell Congress on the 99-page bill that would suspend the nation’s debt limit through 2025 to avoid a federal default while limiting government spending.

The Democratic president and Republican speaker have to win their respective parties’ support for the plan in time to avert a default that would shake the global economy. On Tuesday, lawmakers began scrutinizing and debating the legislation, which also includes provisions to fund medical care for veterans, change work requirements for some recipients of government aid and streamline environmental reviews for controversial pipelines and other energy projects.

The modest deal gives both men wins to tout, with Biden protecting major parts of his agenda from Republican cuts and McCarthy scoring several conservative spending caps and changes to government programs. read more