Biden-McCarthy debt ceiling deal approved by key committee ahead of House vote

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LATEST: A major debt ceiling deal negotiated by President Biden and House Speaker McCarthy has passed the Republican-led House Rules Committee, setting up a vote Wednesday in the full chamber.

Some progressive Democrats have raised their own concerns about the bill ahead of Wednesday's vote. Rep. Jim McGovern, D-Mass., the top Democrat on the panel, criticized the bill’s new paperwork requirements for those who get SNAP or TANF benefits, worrying it’ll “make poor people poorer.”

It would put spending caps in place for the next two years to set up the appropriations process. It includes conservative policy measures by rescinding about $28 billion in unspent Covid relief funds, eliminate $1.4 billion in IRS funding and shift about $20 billion of the $80 billion provided to the agency through the Inflation Reduction Act to non-defense funds.

Additionally, it would overhaul the National Environmental Policy Act to streamline permits for projects.Massie praised a part of the bill in his Rules Committee remarks: Its inclusion of a measure he sponsored requiring the government to cut 1% of spending across the board if Congress doesn’t pass all 12 appropriations bills.

Rep. Dusty Johnson, R-S.D., chair of the center-right Main Street Caucus, told reporters that he predicts the bill will “absolutely pass” after speaking with “dozens of members.”

 

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