{"id":1917076,"date":"2023-04-20T07:55:23","date_gmt":"2023-04-20T11:55:23","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kevin-mccarthy-unveils-plan-to-responsibly-raise-debt-limit\/"},"modified":"2023-04-20T07:56:35","modified_gmt":"2023-04-20T11:56:35","slug":"kevin-mccarthy-unveils-plan-to-responsibly-raise-debt-limit","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kevin-mccarthy-unveils-plan-to-responsibly-raise-debt-limit\/","title":{"rendered":"Kevin McCarthy Unveils Plan To \u2018Responsibly\u2019 Raise Debt Limit"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fkevin-mccarthy-unveils-plan-to-responsibly-raise-debt-limit%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1917076&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>House Republicans released their long-awaited proposal to avert a <a href=\"https:\/\/www.dailywire.com\/news\/democrats-scoff-as-mccarthy-calls-out-biden-for-halting-debt-limit-negotiations\" target=\"_blank\" rel=\"noopener\">debt ceiling<\/a> crisis in a bid to end a standoff with the White House.<\/p>\n<p><a href=\"https:\/\/www.speaker.gov\/wp-content\/uploads\/2023\/04\/LSGA_xml.pdf\" target=\"_blank\" rel=\"noopener\">The 320-page \u201cLimit, Save, Grow Act of 2023<\/a>,\u201d introduced by GOP leadership on Wednesday, would lift the U.S. debt limit by $1.5 trillion or until March 31, 2024 \u2014 whichever comes first. As a trade-off, Republicans want a variety of spending cuts and commitments aimed at fostering economic growth.<\/p>\n<p>Speaker Kevin McCarthy (R-CA) delivered remarks on the House floor, explaining that the legislation led by Budget Chairman Jodey Arrington (R-TX) seeks to \u201c<span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">responsibly raise the debt limit into next year and provide more than $<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-b88u0q r-bcqeeo r-qvutc0\">4.5<\/span> <span class=\"css-901oao css-16my406 r-poiln3 r-b88u0q r-bcqeeo r-qvutc0\">trillion<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> in savings to American taxpayers.\u201d<\/span><\/p>\n<p>To reach that goal, McCarthy said the proposal would limit government spending, return discretionary spending to pre-inflationary, fiscal year 2022 levels, and then limit the growth of spending to 1% per year.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/SpeakerMcCarthy?ref_src=twsrc%5Etfw\">@SpeakerMcCarthy<\/a> (R-CA): &#8220;Today, I&#8217;m proud to announce we are introducing the Limit, Save, Grow Act of 2023 \u2026 [The bill] would responsibly raise the debt limit into next year and provide more than $4.5 trillion in savings to American taxpayers.&#8221; <a href=\"https:\/\/t.co\/CXoX6Ml1TQ\">https:\/\/t.co\/CXoX6Ml1TQ<\/a> <a href=\"https:\/\/t.co\/zSZ6ciFo7M\">pic.twitter.com\/zSZ6ciFo7M<\/a><\/p>\n<p>\u2014 CSPAN (@cspan) <a href=\"https:\/\/twitter.com\/cspan\/status\/1648765506139086848?ref_src=twsrc%5Etfw\">April 19, 2023<\/a><\/p>\n<\/blockquote>\n<p>\u201cOur plan ensures adults without dependents earn a paycheck and learn new skills. By restoring these common sense measures, we can help more Americans earn a paycheck, learn new skills, reduce childhood poverty, and rebuild the workforce,\u201d McCarthy said. \u201cIt will also protect and preserve Medicare and Social Security because more people will be paying into it.\u201d<\/p>\n<p>The proposal boasts a long list of cuts, including rescinding unobligated coronavirus funds and repealing \u201cgreen\u201d energy tax credits. It also outlines crackdowns on student debt relief, SNAP benefits, Internal Revenue Service money, and more.<\/p>\n<p>Time is of the essence, as experts have <a href=\"https:\/\/thehill.com\/business\/3869077-us-could-default-on-debt-as-soon-as-june-analysis\/\" target=\"_blank\" rel=\"noopener\">warned of a default<\/a> this summer that could <a href=\"https:\/\/www.nytimes.com\/2023\/03\/07\/us\/politics\/debt-default-economy.html\" target=\"_blank\" rel=\"noopener\">cripple the U.S. economy<\/a>. Treasury Secretary Janet Yellen notified Congress in January that the United States had crossed the statutory limit of roughly $31.4 trillion and advised that her agency take \u201c<a href=\"https:\/\/www.dailywire.com\/news\/yellen-warns-congress-extraordinary-measures-have-begun-after-debt-ceiling-breached\" target=\"_blank\" rel=\"noopener\">extraordinary measures<\/a>\u201d so the government could continue to pay its bills, but only in the short term.<\/p>\n<p><b data-stringify-type=\"bold\"><a class=\"c-link c-link--focus-visible\" href=\"https:\/\/onelink.to\/dwapp\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/onelink.to\/dwapp\" data-sk=\"tooltip_parent\">CLICK HERE TO GET THE DAILY WIRE APP<\/a><\/b><\/p>\n<p>How far the House proposal gets remains to be seen. Republicans hold a slim majority in the House, and the top Democrat already said he does not support GOP leadership\u2019s efforts.<\/p>\n<p>\u201cHouse Dems are working hard to prevent a catastrophic default that will hurt everyday Americans,\u201d House Minority Leader Hakeem Jeffries (D-NY) <a href=\"https:\/\/twitter.com\/RepJeffries\/status\/1648370300445245443\" target=\"_blank\" rel=\"noopener\">tweeted on Tuesday<\/a>. \u201cExtreme MAGA Republicans lack the votes to pass their irresponsible plan. It\u2019s time to end the right-wing drama and cleanly raise the debt ceiling.\u201d<\/p>\n<p>As an alternative, the bipartisan Problem Solvers Caucus <a href=\"https:\/\/problemsolverscaucus.house.gov\/sites\/problemsolverscaucus.house.gov\/files\/documents\/PSC%20Debt%20Ceiling%20Framework.pdf\" target=\"_blank\" rel=\"noopener\">released a one-page framework<\/a> proposal of its own, talking briefly about temporarily suspending the debt ceiling, creating a fiscal commission and interim deficit stabilization controls, and adopting budget reforms. And there are also conservative lawmakers who have been making demands, such as a commitment to \u201c<a href=\"https:\/\/www.foxnews.com\/politics\/chip-roy-pushes-unwind-bidens-inflation-reduction-act-debt-ceiling-deal\" target=\"_blank\" rel=\"noopener\">unwind<\/a>\u201d President Joe Biden\u2019s championed Inflation Reduction Act.<\/p>\n<p>Whatever the House passes would then move to the Senate, which is narrowly controlled by Democrats. Meanwhile, the White House has been adamant that raising the debt ceiling should not have any conditions ever since Biden met with McCarthy more than two months ago.<\/p>\n<p>\u201cSpeaker McCarthy is engaging in dangerous economic hostage-taking,\u201d White House Press Secretary\u00a0<a href=\"https:\/\/www.dailywire.com\/topic\/karine-jean-pierre\" target=\"_blank\" rel=\"noopener\">Karine Jean-Pierre<\/a> told reporters in the hours before the House GOP proposal was unveiled.<\/p>\n<p>From his presidential Twitter account, Biden argued on Wednesday that Republicans are not focused on \u201cfiscal discipline,\u201d but rather \u201cfinding ways to squeeze more out of America\u2019s middle class. That\u2019s the MAGA economic agenda,\u201d tying GOP lawmakers to former President Donald Trump\u2019s movement.<\/p>\n<p>Still, McCarthy said that the Senate lacks a plan and, with the House GOP proposal now introduced, he put the onus on Biden to reach an agreement.<\/p>\n<p>\u201cPresident Biden has a choice: come to the table and stop playing partisan political games or cover his ears, refuse to negotiate, and risk bumbling his way into the first default in our nation\u2019s history,\u201d the speaker said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>House Republicans released their long-awaited proposal to avert a debt ceiling crisis in a bid to end a standoff with the White House. The 320-page \u201cLimit, Save, Grow Act of 2023,\u201d introduced by GOP leadership on Wednesday, would lift the U.S. debt limit by $1.5 trillion or until March 31, 2024 \u2014 whichever comes first.<\/p>\n","protected":false},"author":1588,"featured_media":1917077,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[24728,5487,3660,6612,3663,4025,5283,3984],"class_list":["post-1917076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-responsibly","tag-debt","tag-kevin","tag-limit","tag-mccarthy","tag-plan","tag-raise","tag-unveils"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1917076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1588"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1917076"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1917076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1917077"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1917076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1917076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1917076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}