"Debt Ceiling Showdown: White House Threatens Veto as GOP Prepares Vote"

The White House has stated that President Biden would veto the House Republicans' bill that would lift the debt ceiling into 2024 but slash federal spending. The bill, known as the Limit, Save, Grow Act of 2023, pairs an increase in the debt ceiling through March 2024 with $4.5 trillion in spending cuts. Republicans are insistent that any plan to raise or suspend the debt limit must be paired with cuts to federal spending, but Mr. Biden and Democrats have said they will only accept legislation that addresses the debt limit with no conditions attached.