“Speaker Kevin McCarthy and his top lieutenants say they are actively preparing to move a party-line bill to raise the national debt limit if President Joe Biden continues to draw a firm line against talks with House Republicans to avoid the nation’s first-ever default,” CNN reports.
“The move would be a risky one. The GOP can only afford to lose four votes on any partisan plan, and thorny fiscal issues have long divided their party. House passage of a party-line bill would be difficult in the Democratic-led Senate where 60 votes would be needed to advance such a package.”
“What exactly is in the GOP plan – and how much of a debt ceiling increase they may seek – remains a point of internal discussion. But they say that they have identified roughly $4 trillion in budget cuts and savings, some of which were outlined in a letter that McCarthy sent to Biden earlier in the week.”
