An agreement between the White House and Republican lawmakers on the debt ceiling cleared a key early hurdle on Tuesday. A lower chamber committee voted to allow discussion, setting the stage for a broader vote in the House of Representatives. While a portion of the party’s more hardline members criticized the plan for not delivering enough public spending cuts, the Rules Committee approved moving the process forward with a 7 to 6 vote.
If enacted, the compromise negotiated over the weekend by President Joe Biden and House Speaker Kevin McCarthy would extend the nation’s borrowing limit for two years, extending into the next presidential cycle. The White House has agreed to reduce spending levels and to place certain requirements on food assistance programs and on support for vulnerable families as part of the package. (Source: White House statement)
The deal’s swift congressional consideration is seen as essential to prevent a default on the United States’ public debt after the debt limit was reached earlier this year. Lawmakers have until June 5 to approve the measure in both chambers, a deadline tied to Treasury estimates of dwindling reserves. Support for the package has varied within both parties, drawing opposition from some progressive Democrats and a few republicans who prefer sharper spending cuts, though leadership in both houses has backed the agreement. (Source: Congressional briefings)
At a Tuesday evening news briefing, several Republicans in the House signaled their backing for the proposal and appeared confident that it would garner the necessary votes to advance. One participant noted that undecided members had asked for information and had come away ready to support the plan. House Majority Leader Steve Scalise attributed the momentum to ongoing discussions and stated that broad support tends to grow as lawmakers digest major pieces of legislation. (Source: Congressional remarks)
Conservative critics argued the proposal marks only the initial phase of what they view as a broader effort by the Biden administration and Democratic leadership in Washington to restrain spending, an effort they characterize as essential to fiscal discipline. They warned that the package would not immediately resolve long term fiscal pressures, but they also cautioned that rejecting the deal could complicate the path to a timely budget resolution. (Source: party briefings)