Sunday, September 24, 2023

Kevin McCarthy Expects Republican Support for US Debt Limit Suspension Deal

Speaker of the United States House of Representatives, Kevin McCarthypredicted on Sunday that a majority of his fellow Republicans would support a deal to suspend the debt limit $31.4 billion Who held talks with President Joe Biden over the weekend.

Hours later, the Democratic president said he was confident the legislation would be approved by both houses of Congress to avoid a suspension of payments by the US government. Asked if there were any obstructions, the President replied: “None.”

Biden told reporters upon his return to the White House, “I’m going to talk to McCarthy at three o’clock to make sure all the eyes are dotted. I think we’re in good shape.”

After weeks of negotiations, McCarthy and Biden reached a tentative agreement late Saturday, but now face the challenge of getting the deal passed by the Republican-controlled House of Representatives and the Democratic-led Senate before June 5.

Biden and McCarthy were scheduled to speak late Sunday to finalize the deal, which has drawn criticism from hardline Republicans and progressive Democrats. House Republicans were to introduce legislation on Sunday to approve the deal.

The White House was scheduled to brief Senate Democrats at 6:30 p.m. local time.

As Democratic and Republican negotiators iron out the final details of a deal to lift the federal government’s $31.4 billion borrowing limit, McCarthy may be forced to make some behind-the-scenes deals.

Rep. Chip Roy, a key member of the hardline House Freedom Caucus, said on Twitter “we’re going to try” to stop it from passing the House.

Republicans in the House of Representatives and the Senate criticized the terms of the agreement and the new terms.

If Congress Doesn’t Reach an Agreement on the Self-Imposed Debt Limit June 5A default could be the trigger that would roil financial markets and plunge the United States into a deep recession.

Republicans control the House of Representatives by 222 votes in favor and 213 against, while Democrats control the Senate by 51 votes in favor and 49 against.

The marginalization means that moderates on both sides would have to support the bill, as any compromise would almost certainly lose the support of the extreme-left and extreme-right wings of each party.

In order to win the presidency, McCarthy agreed to allow a vote on any member who tried to work with the Democrats, which could lead to his removal.

Roy complained on Twitter on Sunday that the deal would preserve the expansion of the Internal Revenue Service established when Democrats controlled both houses of Congress. The deal suspends the debt ceiling until January 2025, after the November 2024 presidential election, in exchange for spending caps and cuts in government programs.

Rep. Dan Bishop and other staunch Republicans sharply criticized early details of the deal, which suggest Biden successfully sidestepped several demands for spending cuts on Saturday, signaling McCarthy may have trouble getting votes. Might be possible.

Bishop said, “The side that has the leaves, that side has full surrender.”

Progressive Democrats in both houses have said they would not support any deal that would include higher job requirements for welfare benefits. According to sources, the agreement does this by adding work requirements to food assistance for people aged 50 to 54.

Nation World News Desk
Nation World News Desk
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