Debt limit bill: As McCarthy tries to get House votes, U.S. default now projected in early June – English-BanglaNewsUs
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Debt limit bill: As McCarthy tries to get House votes, U.S. default now projected in early June

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Published April 26, 2023
Debt limit bill: As McCarthy tries to get House votes, U.S. default now projected in early June

Usa news: The U.S. could default on its debt in about a month, according to three new analyses, but those projections don’t seem to be motivating Republican holdouts to vote for the GOP’s debt limit bill.

House Speaker Kevin McCarthy told reporters Tuesday it will pass this week, but at least four Republicans were still a firm “no” on the measure that same day. Several others have not said if they will support it. With a five-member majority, McCarthy doesn’t have many votes to spare.

Even if the House passes the GOP debt limit bill, it will not advance in the Democratic-led Senate.

At most, a passage in the House would give McCarthy perceived leverage to negotiate with President Joe Biden and Democratic leaders on federal spending.

But Biden has said he will not negotiate on the debt limit and has called on Republicans to raise the ceiling as they did three times without pushback during the Trump administration.

Inside the GOP plan:McCarthy, GOP debt limit plan proposes $4.5 trillion in cuts, eliminates student loan forgiveness

White House response:Biden threatens veto of GOP debt limit bill, accuses Republicans of ‘hostage taking’

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