Lawmakers are making their arguments for and against the debt ceiling agreement reached between President Biden and House Speaker Kevin McCarthy (R-Calif.) ahead of an initial vote Tuesday.
The deal would suspend the debt ceiling until January 2025, impose spending caps for two years, increase work requirements for some assistance programs, and more.
Ahead of a House vote expected Wednesday evening, the House Rules Committee is voting Tuesday on the rule that will dictate debate over the measure.
The conservative House Freedom Caucus held a press conference urging opposition, while Senate Majority Leader Chuck Schumer (D-N.Y.) endorsed the proposal. Read more about what’s in the House bill here.
From the Freedom Caucus: Rep. Chip Roy (R-Texas) said at a press conference that “not one Republican should vote for this deal,” which he previously said included “no serious substantive policy reforms.”
One caucus member at the press conference, Rep. Dan Bishop (R-N.C.), said he’d support a motion to oust McCarthy as Speaker over the deal, though he stopped short of saying he’d file a motion to vacate. “I’ll decide that in conjunction with others,” Bishop said.
From Schumer: “Nobody is getting everything they want,” the Senate majority leader said Tuesday. “There’s give on both sides. But this agreement is the responsible, prudent and very necessary way forward.”
Schumer said he’ll “make sure the Senate moves quickly the moment this bipartisan bill is sent to us by the House.”
Senate Minority Leader Mitch McConnell (R-Ky.) endorsed the deal over the weekend.
Timeline: Leaders are hoping to get the debt limit suspension passed by Monday — Treasury Secretary Janet Yellen‘s updated estimate for when the U.S. would default on its debts without a debt limit fix.
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