JUST IN: House narrowly passes GOP debt limit bill, putting Biden on defense for refusal to negotiate
In the 217-to-215 vote, nearly every House Republican voted to raise the debt limit by $1.5 trillion until May 2024 while slashing spending by $4.8 trillion. The vote passed by a razor-tight margin, as Mr. McCarthy can only lose four votes on any single House bill before having to rely on Democrats.
The bill cuts federal spending by $130 billion for the upcoming fiscal year and limits budget growth to 1% annually over the next decade. It also would rescind at least $90.5 billion in unspent pandemic relief, cancel Mr. Biden’s student loan forgiveness program, and scrap green energy tax credits passed by Democrats last year.
Mr. Biden has similarly said he will veto the measure if it reaches his desk. The president has refused to negotiate with House Republicans on raising the debt limit, saying both Democrats and Republicans helped create the more than $31 trillion national debt. Conservatives aligned with the House Freedom Caucus threatened to oppose the bill unless work requirements were upped from 20 hours to 30 hours per week for people to receive Medicaid, food stamps, and direct cash payments. They also wanted requirements to kick in next year rather than in 2025, as initially provided for within the bill.
“We’re done negotiating, and we’re going to get this bill through,” House Republican Conference Vice Chairman Mike Johnson, Louisiana Republican, said Tuesday. “I think we’re close. No changes.”
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