Now, McCarthy and his House Republican leadership team face a new series of political and policy challenges, including an internal GOP rebellion from the most boisterous House conservatives angry about the late-May deal that lifts the current $31.4 trillion debt limit into 2025. The law also caps nondefense discretionary spending at $704 billion for fiscal 2024. But House Freedom Caucus members and assorted other conservatives want a return to fiscal 2022 spending levels .
The debt limit deal, which McCarthy did his best to argue was a win for Republicans that conceded almost nothing to Democrats — most significantly by forcing Biden to renege on his position that he wouldn’t consider any kind of negotiation — has haunted the speaker since it became law. And despite it keeping the country from careening over a fiscal cliff, it could have knock-on effects that last into 2024.
“Front-line Democrats running for reelection next year will now be able to say that they voted for the bipartisan Fiscal Responsibility Act that will cut $2.1 trillion in spending over the next six years,” according to a memo released by the group. “If Republicans were planning on using the issue of federal spending as a sword against Democrats next year, they now have conspired to give Democrats a shield with which to combat those attacks.
“It seems to me, the events of last week, the hold the Freedom Caucus types put on House activity demonstrated they can control the agenda,” Bannon said. “And that agenda is the extremist agenda that basically prevented Republicans from winning a big majority in 2022.
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