Debt limit battle looms for House GOP and Biden administration.

House Republicans have proposed a bill to raise the debt ceiling through the end of next March or by $1.5 trillion, whichever happens first, setting up a potential fight just months before the 2024 presidential election. Democrats have dismissed the proposal as a non-starter, accusing Republicans of punting the issue. Some Republicans see their fight to curb spending as a winning issue, but partisan battles over the limit can garner significant public interest when cuts to popular programs are on the table. The bill is very unlikely to pass the Democratic-led Senate as it stands.