President Joe Biden talks with House Speaker Kevin McCarthy of Calif., as they walk down the House steps as they leave after attending an annual St. Patrick's Day luncheon gathering at the Capitol in Washington, March 17, 2023.
Biden wants Congress to simply raise the debt limit without any strings attached, while Republicans led by McCarthy are insisting on budget cuts in exchange for any votes to allow more borrowing to pay the nation’s bills. The Republicans refuse to simply raise the debt limit on its own, and are demanding budget cuts and other party priorities. The House Republican-passed bill would drop millions of Americans from health care, food stamps and cash assistance programs by imposing additional work requirements that many would be unable to meet. And it would undo much of Biden’s climate change agenda.
“We have to avoid default, period. Full stop,” the House Democratic leader Hakeem Jeffries said over the weekend. To win the gavel, McCarthy made steep concessions to the hard right Freedom Caucus and other conservatives who make up his slim majority, and who can threaten to oust the speaker if he negotiates a deal they are unwilling to accept.
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