Debt ceiling showdowns are ready for comeback with GOP majority ...Middle East

The Hill - News

House Republicans are looking to use a vote on raising the debt ceiling, a must-pass measure to avoid stark economic consequences and damaging credit of the United States, to get concessions on spending cuts if they win control of the chamber in the midterm elections. The federal government is expected to reach the $31.4 trillion debt limit, last increased in 2021, sometime in 2023. House Minority Leader Kevin McCarthy (R-Calif.), who is likely to become Speaker should the GOP take the lower chamber in November, is preparing for a battle with the Biden administration over curbing spending as a condition for a debt ceiling increase. “We’ll provide you more money, but you got to chang

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Last updated : 23 October 2022 clock 01:32 PM

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Debt ceiling showdowns are ready for comeback with GOP majority ...Middle East

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