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Debt Bill

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politics3 years ago•5 min saved

Debt ceiling victories and challenges for US politicians.

House Republicans passed a debt bill despite the thinnest of narrow margins, but Speaker Kevin McCarthy’s fiscal standoff with President Joe Biden remains as deadlocked as ever. The GOP is demanding steep spending cuts in exchange for lifting the nation’s borrowing limit to stop a dangerous debt default. The impasse might not ease until one or both parties start feeling more pressure to bend as Congress veers closer to the edge of fiscal calamity later this spring.

via POLITICO|

#debt-bill #fiscal-standoff #house-republicans

politics3 years ago•2 min saved

GOP's Debt Ceiling Bill Passes House Amidst Opposition.

House Democrats are preparing to use the GOP's debt bill as a campaign issue in the 2022 midterms, similar to how they campaigned against Republicans in 2018 over Obamacare and tax cuts. Democratic groups are already gearing up to knock Republicans over the debt standoff, but the focus on the GOP's debt bill and proposed cuts isn't without its own political pitfalls. Senate Majority Leader Chuck Schumer made clear his caucus is not responding to Speaker Kevin McCarthy's legislation, ultimately putting the issue between President Joe Biden and the speaker after its passage in the House.

via POLITICO|

#campaign-trail #debt-bill #democrats