House Speaker Kevin McCarthy outlined some of his demands in the heating-up debate over raising the U.S. debt ceiling, while the Biden administration has demanded an increase in the borrowing limit without conditions.
House Speaker Kevin McCarthy on Tuesday outlined some of his demands in the debate over raising the U.S. debt ceiling, listing proposals including cutting “excessive” domestic spending and beefing up work requirements for certain Americans.
McCarthy’s letter is short on specifics but includes ideas that he says would achieve budgetary savings including reclaiming unspent COVID-19 funds, “strengthening work requirements for those without dependents who can work,” and measures to lower energy CL.1, +1.06% costs. “If they want to have a conversation about our nation’s economic and fiscal future, it’s time for them to put out a budget — as the president has done with his detailed plan to grow the economy, lower costs, and reduce the deficit by nearly $3 trillion,” she said.
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