Biden's Negotiation Strategy on Debt Ceiling Threatens GOP Bill and Second Term.

The White House has threatened to veto a GOP proposal in the House to pair a debt limit increase with government spending cuts, calling it a "reckless attempt to extract extreme concessions." The legislation, dubbed the Limit, Save, Grow Act, would cap government funding at fiscal 2022 levels and limit spending growth to 1% annually over the next decade. President Biden and White House officials have been adamant that Congress should vote to raise the debt limit without conditions, pointing to decades of precedent. The bill is unlikely to gain traction in the Senate, where Democrats hold a 51-49 majority.