House Republicans passed a debt ceiling increase bill Wednesday that ties an increase to federal government spending cuts. The bill has an uncertain path in the Senate, and President Joe Biden has said he will veto it.
On Wednesday, Speaker Kevin McCarthy, R-Calif., said the GOP has presented its plan, and he called on Biden to meet with him before the country defaults on its debts. All four of Utah's congressmen voted in support of McCarthy's bill.
"We can't get to the root of America's debt crisis without cutting off Washington's unlimited line of credit," Utah's 3rd District Rep. Burgess Owens told the Deseret News. "Unfortunately, President Biden isn't listening to Sen. Biden, who voted to raise the debt limit with significant deficit reduction measures attached in 1985, 1987, 1993 and 1997."
The legislation package seeks to cut federal spending by blocking Biden's promise to forgive student loans up to $20,000, and repeals measures in the Inflation Reduction Act passed last year to fund green energy tax cuts and $80 billion in additional funding for the Internal Revenue Service. GOP House Majority Leader Rep. Steve Scalise said the Republican plan will strengthen the fiscal health of Social Security.
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