Debt ceiling proposal causes discomfort for House Republicans.
US House Speaker Kevin McCarthy is trying to persuade his fellow Republicans to support a $1.5tn increase in the nation's debt ceiling, which is facing early indications of a possible revolt in his thin majority. McCarthy is trying to couple it with tough new spending controls. If the divided Congress fails to raise the federal government's $31.4tn debt ceiling, the government could face a default that would shake the US and world economies.