Debt ceiling battle heats up in Congress with McCarthy's proposed bill and mocking of Democrats.

House Speaker Kevin McCarthy has released a bill to raise the debt ceiling by $1.5tn for a year while cutting major components of President Joe Biden's agenda. The bill, called the Limit, Save, Grow Act of 2023, would save taxpayers more than $4.5tn by limiting discretionary spending, retrieving unspent pandemic-related funds, eliminating Biden's student loan forgiveness plan, and cutting funds earmarked for the Internal Revenue Service. The cuts would be in exchange for a one-year debt ceiling increase. However, it is unclear whether the bill has enough support to pass, and even if it does pass the House, the Democratic-controlled Senate would likely kill the measure.