{"id":1939744,"date":"2023-05-28T03:51:19","date_gmt":"2023-05-28T07:51:19","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-and-mccarthys-tentative-deal-raises-debt-ceiling-until-2025\/"},"modified":"2023-05-28T03:57:01","modified_gmt":"2023-05-28T07:57:01","slug":"biden-and-mccarthys-tentative-deal-raises-debt-ceiling-until-2025","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-and-mccarthys-tentative-deal-raises-debt-ceiling-until-2025\/","title":{"rendered":"Biden and McCarthy agree to raise debt ceiling until 2025."},"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-and-mccarthys-tentative-deal-raises-debt-ceiling-until-2025%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=1939744&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--><h2>House Speaker Kevin McCarthy and President Joe Biden Reach Deal to Avert Debt Default<\/h2>\n<p>House Speaker Kevin McCarthy (R-CA) and President Joe Biden have reached a deal in principle to avert a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/congress-misses-debt-ceiling-deadline-treasury-starts-extraordinary-cash-saving-measures-to-prevent-debt-default\/\" title=\"Congress Misses Debt Ceiling Deadline, Treasury Starts \u2018Extraordinary\u2019 Cash Saving Measures To Prevent Debt Default\">debt default<\/a>. The deal includes raising the debt ceiling for two years, rolling back non<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/conservatives-rally-against-1-5-trillion-omnibus-spending-bill\/\" title=\"Conservatives Rally Against .5 Trillion Omnibus Spending Bill\">-defense discretionary spending<\/a> to Fiscal Year 2022 levels, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-and-mccarthys-tentative-deal-raises-debt-ceiling-until-2025\/\" title=\"Biden and McCarthy agree to raise debt ceiling until 2025.\">capping top-line federal spending<\/a> to one-percent annual growth over the next six years.<\/p>\n<p>The exact details of the deal won&#8217;t be known until text is released later on Sunday. However, according to a GOP fact sheet on the bill and Reps. Dusty Johnson (R-SD) and Stephanie Bice (R-OK), the deal would:<\/p>\n<ul>\n<li>Raise the debt ceiling until January of 2025<\/li>\n<li>Claw back nearly $29 billion in unspent COVID relief funds<\/li>\n<li>Add work requirements to Temporary Assistance for Needy Families program and the Supplemental Nutrition Assistance Program up to age 54<\/li>\n<li>Claw back the $1.9 billion appropriated to the Internal Revenue Service for the 87,000 new agents<\/li>\n<li>Implement a temporary 99% continuing resolution cap until all 12 appropriations bills are passed<\/li>\n<li>Restart student loan payments in 60-days<\/li>\n<\/ul>\n<p>Additionally, it would enact a statutory Administrative PAY-GO requiring the administration to find ways to offset spending from executive orders and rules.<\/p>\n<h3>Republican Support for the Bill<\/h3>\n<p>Despite pushback on social media by some members of the conservative House Freedom Caucus, Rep. Dusty Johnson (R-SD) told reporters as he left the Capitol that he believes a majority of Republicans will vote for the bill when it gets to the House floor.<\/p>\n<p>\u201cI don&#8217;t know how we couldn&#8217;t have a strong majority,\u201d Johnson said. \u201cThis gets rid of the omnibus by double.\u201d<\/p>\n<p>As he left the Capitol, McCarthy told CNN that he thought the conference call with GOP House Members went \u201creally well\u201d and they will be working through the night to get the language finalized. He said the bill would likely be about 150 pages, and he plans to talk to Biden tomorrow while their teams work on the text.<\/p>\n<p>McCarthy also pushed back on the dissent from members of the Freedom Caucus, saying he thinks there will be many more people \u201cexcited than depressed on this.\u201d<\/p>\n<p>\u201cMost importantly, America wins on this one,\u201d McCarthy said.<\/p>\n<h3>Biden&#8217;s Statement<\/h3>\n<p>In a statement, Biden called the tentative agreement an \u201cimportant step forward\u201d and urged both chambers of Congress to pass the bill \u201cright away.\u201d<\/p>\n<p>\u201cThe agreement represents a compromise, which means not everyone gets what they want. That\u2019s the responsibility of governing,\u201d Biden said in the statement. \u201cAnd, this agreement is good news for the American people, because it prevents what could have been a catastrophic default and would have led to an economic recession, retirement accounts devastated, and millions of jobs lost.&#8221;<\/p>\n<p>McCarthy said he plans to file the bill Sunday afternoon and call his members back on Tuesday so they can vote on it Wednesday. This will then give the Senate five days to pass the bill and get it to the President&#8217;s desk before the June 5 deadline to raise the debt ceiling.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>House Speaker McCarthy and President Biden have agreed to a deal to avoid a debt default. The deal raises the debt ceiling for two years, reduces non-defense discretionary spending to FY2022 levels, and limits federal spending growth to one percent annually for six years. The specifics of the agreement are not yet known.<\/p>\n","protected":false},"author":1,"featured_media":1939745,"comment_status":"open","ping_status":"closed","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":[538],"tags":[16840,10389,3620,10142,5487,3663,5283],"class_list":["post-1939744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-16840","tag-agree","tag-biden","tag-ceiling","tag-debt","tag-mccarthy","tag-raise"],"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\/1939744","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1939744"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1939744\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1939745"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1939744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1939744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1939744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}