Republican Debt Limit Plan in Limbo as McCarthy and Biden Refuse to Budge

House Speaker Kevin McCarthy said that House Republicans are ready to pass their own debt ceiling bill if President Joe Biden won't agree to negotiate with him over raising the nation's borrowing limit. McCarthy said a House debt ceiling bill would reflect the contours of his letter to Biden earlier this week that proposed a borrowing limit extension with provisions to cut and cap discretionary spending, recapturing unspent Covid relief funds, new work requirements for federal benefits and energy and border legislation. Democratic leaders are supporting Biden’s position, saying Congress should pass a “clean” debt limit bill with no strings attached and negotiate spending policy separately on a government funding bill.