House to debate debt ceiling bill as GOP confronts last-minute holdouts

With a vote expected as soon as this afternoon, top GOP lawmakers have expressed a measure of confidence even as they acknowledge they have little room for error, since their slim advantage — and persistent ideological schisms — could easily frustrate their plans. Overnight, Republican leaders even tweaked their bill in an attempt to assuage skeptics and cobble together the 218 votes needed for passage, defying their own, earlier promises to leave the legislation intact.

president has called on Congress to raise the debt limit without conditions because a failure to do so could cause the government to default — perhaps as soon as this summer. “I would say most of the members are actually on board with the package as I understand it,” added Rep. Byron Donalds , another caucus member, who said he thought the bill would pass even as he acknowledged there are aFor now, the clock is ticking: Congress may have as few as six weeks to raise the debt ceiling, or else the U.S. government could default, triggering an economic calamity with global implications.

Entering the debate, Republicans have stood firm this week in their brinkmanship, stressing they did not want a default — but would not deliver an increase in the borrowing cap without new constraints to lessen the debt. Analyzing the bill, the nonpartisan Congressional Budget Office found Tuesday that the GOP-backed cuts and other policy changes would save the government roughly $4.8 trillion over the next 10 years.“It would be irresponsible to do so without meaningful fiscal reforms,” Rep.

The proposal marks an escalation in the standoff between House Speaker Kevin McCarthy and Biden, as Republican leaders harden in their resolve to exploit a key fiscal deadline for political leverage. Here’s more about what the GOP bill would do.

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