GOP divided over debt ceiling plan as Biden considers second term strategy.

Senate Republicans are hesitant about Speaker Kevin McCarthy's proposal to extend the debt ceiling for only a year, fearing another high-stakes standoff with the president over the economy right before the 2024 election. Many GOP senators are also not enthusiastic about capping or cutting defense spending, which could be required to achieve McCarthy's promised rollback in spending to fiscal 2022 levels. Senate Republicans want to rein in federal spending, but they also hope to get past the danger of a national default without inflicting too much damage on the economy, which may be teetering on the brink of a mild recession.