House Speaker Unveils Plan To Raise Debt Ceiling, While Trying To Repeal Biden’s Agenda


Speaker of the House Kevin McCarthy, R-Calif., joined at far left by House Majority Leader Steve Scalise, R-La., holds an event to mark 100 days of the Republican majority in the House, at the Capitol in Washington, Monday, April 17, 2023. In a speech Monday at the New York Stock Exchange, the Republican leader accused President Joe Biden of refusing to engage in budget-cutting negotiations to prevent a debt crisis. (AP Photo/J. Scott Applewhite)
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House Speaker Kevin McCarthy has unveiled his proposal to raise the debt ceiling by $1.5 trillion for a year while attempting to repeal major components of President Joe Biden’s agenda.

The bill named the Limit, Save, Grow Act of 2023 aims to save taxpayers more than $4.5 trillion by limiting what they call discretionary spending, retrieving unspent pandemic-related funds, eliminating Biden’s student loan forgiveness plan, and cutting funds earmarked for the IRS.

The plan calls on Biden and Senate Majority Leader Chuck Schumer to negotiate and address the crisis, but it’s uncertain whether the bill has enough support to pass.

Democrats have voiced their opposition to the proposal, arguing it will hurt millions and claiming Republicans are creating a debt crisis to justify these plans. The White House maintains that it will not negotiate on the debt ceiling and that Congress should pass a clean increase and address any budgetary concerns separately.

With a narrow GOP majority in the House, McCarthy can only afford to lose a handful of votes.

Click play to listen to the report from AURN White House Correspondent Ebony McMorris. For more news, follow @E_N_McMorris & @aurnonline.

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