House Set to Vote on Debt Limit Bill Amid Republican Resistance
New York Times
Speaker Kevin McCarthy toiled on Wednesday to lock down the votes to pass his deal with President Biden to suspend the debt ceiling and set federal spending limits, as a stream of defections from hard-right lawmakers raised the stakes for a climactic set of votes on the package.
With the nation’s first-ever default looming in days, the House was on track to begin consideration on Wednesday afternoon of a plan to defer the nation’s borrowing limit for two years — allowing the government to borrow unlimited sums as necessary to pay its obligations — in exchange for two years of spending caps and a string of policy concessions that Republicans demanded.
To muster a 218-vote majority to push the bill through the closely divided House, congressional leaders must cobble together a coalition of Republicans willing to back it and enough Democrats to make up for what was shaping up to be a substantial number of G.O.P. defections. Mr. McCarthy and his lieutenants predicted they would be able to do so and scheduled a final vote for Wednesday night, well after markets have closed.
Hard-right lawmakers are in open revolt over the compromise and have vowed to try to derail it, with some warning of dire consequences for Mr. McCarthy for shepherding it. Multiple right-wing lawmakers have savaged the bill, publicly using a profanity-laced description to compare it to a foul-tasting sandwich and arguing that it does nothing to secure the kind of deep spending cuts and rollbacks of Biden administration policies for which they have agitated.
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