{"id":1917265,"date":"2023-04-20T15:56:08","date_gmt":"2023-04-20T19:56:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bipartisan-caucus-proposes-plan-to-avoid-default-if-biden-mccarthy-fail-to-reach-debt-ceiling-deal\/"},"modified":"2023-04-20T15:59:04","modified_gmt":"2023-04-20T19:59:04","slug":"bipartisan-caucus-proposes-plan-to-avoid-default-if-biden-mccarthy-fail-to-reach-debt-ceiling-deal","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bipartisan-caucus-proposes-plan-to-avoid-default-if-biden-mccarthy-fail-to-reach-debt-ceiling-deal\/","title":{"rendered":"Bipartisan Caucus Proposes Plan to Avoid Default If Biden, McCarthy Fail to Reach Debt-Ceiling Deal"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/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%2Fbipartisan-caucus-proposes-plan-to-avoid-default-if-biden-mccarthy-fail-to-reach-debt-ceiling-deal%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=1917265&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--><div class=\"post_content\">\n<div class=\"aplayer_app\" data-source=\"https:\/\/vs1.youmaker.com\/assets\/2023\/0419\/0a8e31d4-451c-4a57-9e01-7f4452338b81\/audio.mp3?length=3217581&#038;duration=268\"><\/div>\n<\/p>\n<p>The Problem Solvers Caucus proposed a <a href=\"https:\/\/problemsolverscaucus.house.gov\/sites\/problemsolverscaucus.house.gov\/files\/documents\/PSC%20Debt%20Ceiling%20Framework.pdf\">one-page, four-step framework<\/a> that would solve the debt-ceiling issue if the White House and congressional leaders fail to come up with a deal.<\/p>\n<p>The 63-member bipartisan congressional coalition (31 Republicans and 32 Democrats) endorsed suspending the debt limit until December 31, 2023, \u201cto remove immediate pressure of defaulting on our national debt.\u201d By raising the debt ceiling, lawmakers can address the federal government\u2019s long-term fiscal health by concentrating on establishing a sustainable budget.<\/p>\n<p>Caucus members say that House members can then focus on completing the fiscal year 2024 budget appropriations cycle and institute \u201cinterim deficit stabilization controls.\u201d This would involve creating a commission comparable to the Base Realign and Closure (BRAC) Commission, a Department of Defense panel determining which military bases to shut down.<\/p>\n<p>An independent fiscal commission would review and recommend a package to \u201cstabilize long-term deficits and debt\u201d by Dec. 31, 2024, \u201cand must receive expedited consideration with an up or down vote in Congress by Feb. 28, 2025.\u201d<\/p>\n<p>According to the group of House moderates, the fiscal framework would also adopt budget reform recommendations. This would consist of the U.S. comptroller general issuing an annual report on the nation\u2019s fiscal state and the president providing a midyear report on the nation\u2019s budget.<\/p>\n<p>\u201cOnce again, our Bipartisan @ProbSolveCaucus is leading the way,\u201d Rep. Brian Fitzpatrick (R-Pa.) wrote in a\u00a0<a href=\"https:\/\/twitter.com\/RepBrianFitz\/status\/1648692917538529280\">tweet<\/a>. \u201cWe believe in two-party solutions, and we tackle the most difficult of issues. We go there, and here we are doing it again. For the good of our nation.\u201d<\/p>\n<p>House Speaker Kevin McCarthy (R-Calif.) confirmed in an April 17 New York Stock Exchange speech that a vote would be held as early as next week on a debt ceiling bill. McCarthy noted that the legislation would limit the annual spending growth over the next 10 years to 1 percent, claw back tens of billions of dollars in COVID-related funds, and assess wasteful federal government spending.<\/p>\n<figure id=\"attachment_5200414\" style=\"width: 600px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2023\/04\/17\/id5200414-mccarthy-1200x684.png\"><figcaption class=\"wp-caption-text\"><noscript><\/noscript><\/figcaption><\/a> House Speaker Kevin McCarthy (R-Calif.) delivers a speech on the econony at the New York Stock Exchange (NYSE) in New York, on April 17, 2023. (Timothy A. Clary \/AFP via Getty Images)<\/figure>\n<p>\u201cThis will restore discipline to Washington. This budget will help put an end to reckless spending causing inflation,\u201d the House Speaker said. \u201cBefore we borrow another dime, we owe it to our children to save money everywhere.\u201d<\/p>\n<p>White House deputy press secretary Andrew Bates accused McCarthy of \u201cholding the full faith and credit of the United States hostage.\u201d<\/p>\n<p>House Minority Leader Hakeem Jeffries (D-Ny.) also slammed McCarthy\u2019s plan, <a href=\"https:\/\/www.cnbc.com\/2023\/04\/18\/hakeem-jeffries-slams-kevin-mccarthy-debt-ceiling-plan.html\">telling<\/a> CNBC on April 18 that \u201ceven the flirtation with the default is going to hurt everyday Americans.\u201d<\/p>\n<p>\u201cIt risks raising car payments, it risks raising home mortgage payments, it risks raisi<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Problem Solvers Caucus proposed a one-page, four-step framework that would solve the debt-ceiling issue if the White House and congressional leaders fail to come up with a deal. The 63-member bipartisan congressional coalition (31 Republicans and 32 Democrats) endorsed suspending the debt limit until December 31, 2023, \u201cto remove immediate pressure of defaulting on<\/p>\n","protected":false},"author":278,"featured_media":1917266,"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":[543],"tags":[5454,3620,3667,4870,3715,22936,15651,10875,3663,4025,5392,5064],"class_list":["post-1917265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-avoid","tag-biden","tag-bipartisan","tag-caucus","tag-deal","tag-debt-ceiling","tag-default","tag-fail","tag-mccarthy","tag-plan","tag-proposes","tag-reach"],"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\/1917265","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\/278"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1917265"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1917265\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1917266"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1917265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1917265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1917265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}