{"id":1919168,"date":"2023-04-25T19:41:05","date_gmt":"2023-04-25T23:41:05","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-says-president-will-veto-mccarthy-debt-limit-deal\/"},"modified":"2023-04-25T19:41:49","modified_gmt":"2023-04-25T23:41:49","slug":"biden-admin-says-president-will-veto-mccarthy-debt-limit-deal","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-says-president-will-veto-mccarthy-debt-limit-deal\/","title":{"rendered":"Biden Admin Says President Will Veto McCarthy Debt Limit 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\">20<\/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%2Fbiden-admin-says-president-will-veto-mccarthy-debt-limit-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=1919168&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\/0425\/a975dfd4-81bb-438f-b526-631cbf3b2b71\/audio.mp3?length=3992589&#038;duration=333\"><\/div>\n<\/p>\n<p>President Joe Biden is playing hardball with House Speaker Kevin McCarthy (R-Calif.) over a bill that would pair spending cuts with an increase to the federal debt limit. But will he come out on top?<\/p>\n<p>Last week, House Republicans <a href=\"https:\/\/www.ntd.com\/house-gop-unveils-debt-limit-bill-proposes-1-5-trillion-debt-ceiling-increase_914361.html\" target=\"_blank\" rel=\"noopener\">released their plan for a debt limit increase<\/a>\u2014the <a href=\"https:\/\/www.speaker.gov\/wp-content\/uploads\/2023\/04\/LSGA_xml.pdf\" target=\"_blank\" rel=\"noopener\">Limit, Save, Grow Act of 2023<\/a>. The Republican bill would allow the United States to add up to $1.5 trillion in additional debt until March 31, 2024. In exchange, Republicans say the legislation would provide more than $4.5 trillion in savings to American taxpayers.<\/p>\n<p>But the White House Office of Management and Budget (OMB) has already rejected the legislation and vowed a veto from the president\u2019s office if the bill passes in both the Republican-majority House and the Democrat-majority Senate. The Biden administration has repeatedly insisted on a \u201cclean\u201d debt limit increase, refusing any proposals to cut spending or reform government programs even as the United States has racked up approximately $30.5 trillion in debt.<\/p>\n<p>The OMB statement compared the debt negotiations to a hostage situation, saying, \u201cThe President has been clear that he will not accept such attempts at hostage-taking.\u201d<\/p>\n<p>The Republican proposal would achieve much of its spending reductions by cutting funding from Biden\u2019s budget priorities. The bill would specifically set annual discretionary spending at Fiscal Year 2022 levels and would regulate discretionary spending growth to 1 percent annually over the next decade. The bill would also rescind any unspent pandemic-era relief funds, and prohibit executive actions Biden has taken to cancel student loans.<\/p>\n<p>Clean energy tax credit expansions in the Biden-backed 2022 Inflation Reduction Act (IRA) would also go away. The Republican bill would also rescind funding increases for the Internal Revenue Service (IRS).<\/p>\n<p>But some Democrats are calling on Biden to negotiate with McCarthy. While they haven&#8217;t endorsed the Republican proposal for reforming federal spending, they have rejected Biden\u2019s position of a no-conditions increase to the federal debt limit.<\/p>\n<p>\u201cOur elected leaders must stop with the political games, work together and negotiate a compromise,\u201d said McCarthy\u2019s office in a <a href=\"https:\/\/www.speaker.gov\/even-democrats-call-on-president-biden-to-negotiate\/\" target=\"_blank\" rel=\"noopener\">statement<\/a> on Monday, noting that at least 11 Democratic lawmakers have voiced support for negotiations.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden is already set to veto a bill favored by House Speaker Kevin McCarthy (R-Calif.) to pair spending cuts with an increase to the federal debt limit. Last week, House Republicans released their plan for a debt limit increase\u2014the Limit, Save, Grow Act of 2023. The Republican bill allows the United States to<\/p>\n","protected":false},"author":1759,"featured_media":1919169,"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":[4496,3620,3715,5487,6612,3663,3669,14351],"class_list":["post-1919168","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-admin","tag-biden","tag-deal","tag-debt","tag-limit","tag-mccarthy","tag-president","tag-veto"],"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\/1919168","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\/1759"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1919168"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1919168\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1919169"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1919168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1919168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1919168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}