Biden vows to veto the GOP bill to raise the debt ceiling

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Biden vows to veto the GOP bill to raise the debt ceiling if it makes it to his desk, saying it would cost Americans 780,000 jobs while stripping them of food assistance and student-debt relief

and bolstering work requirements on welfare programs like SNAP, intended to bring in $4.5 trillion in savings over the next decade.

Biden has repeatedly said that he will not negotiate terms to raise the debt ceiling and he would only support a bipartisan and clean increase, without any spending cuts attached. On Tuesday, the White House made the president's position on McCarthy's current proposal clear, with the Office of Management and Budget writing in a:"If the President were presented with the Limit, Save, Grow Act of 2023, he would veto it.

"Altogether, this legislation would not only risk default, recession, widespread job loss, and years of higher interest rates, but also make devastating cuts to programs that hard-working Americans and the middle-class count on," the statement said.

While it's been clear that Biden and Democrats oppose McCarthy's bill, it's unclear if some members of his own party will sign on. Some GOP senators

 

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Biden threatens to veto House GOP bill to raise debt ceiling, slash spendingOn Tuesday, President Biden threatened to veto legislation being pushed by House Republican leaders that would condition support for raising the debt ceiling on deep spending cuts
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