A key test will come Tuesday afternoon when the House Rules Committee is scheduled to consider the package and vote on sending it to the full House for a vote expected Wednesday.
Wall Street will open early Tuesday morning delivering its own assessment, as the U.S. financial markets that had been closedMcCarthy acknowledged the hard-fought compromise with Biden will not be “100% of what everybody wants” as he leads a slim House majority powered by hard-right conservatives.will have to rely on upwards of half the House Democrats and half the House Republicans to push the debt ceiling package to passage.
Questions are also being raised about an unexpected provision that essentially gives congressional approval to the Mountain Valley Pipeline, a natural gas project important to Sen. Joe Manchin, D-W.Va., that many Democrats and others oppose. The House Rules Committee has three members from the influential Freedom Caucus who may very well try to block the package from advancing, forcing McCarthy to rely on the Democrats on the panel to ensure the bill can be sent to the House floor.
Some senators are insisting on amendments to reshape the package from both the left and right flanks. That could require time-consuming debates that delay final approval of the deal.
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