From the Wall Street Journal. And people said McCarthy's Republican House wouldn't agree to raise the debt limit. Well . . .
House Republicans Pass Debt-Ceiling Bill Aiming to Spark Talks With Biden
House Republicans passed a bill proposing to raise the nation’s $31.4 trillion borrowing limit in exchange for deep cuts in government spending, aiming to jump-start talks with President Biden ahead of an approaching deadline for the federal government to avoid default.
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On the spending side, it would return the government’s discretionary spending to fiscal year 2022 levels and cap annual spending growth at 1% for a decade, as well as roll back various Biden administration policies.
GOP lawmakers said the cuts were needed to get the country’s fiscal house in order, after years of large annual deficits and a mounting federal debt.
