Centrists propose backup plan as Biden and GOP clash over debt limit.

The Problem Solvers Caucus, a group of 64 moderate lawmakers split evenly between the parties, has proposed a short- and long-term budget strategy to prevent a government default later in the year if the debt ceiling battle between President Biden and Speaker Kevin McCarthy fails. The proposal includes a suspension of the debt limit through the end of the calendar year and the creation of an outside commission designed to rein in deficit spending and reduce the country’s $31.5 trillion debt over the long haul. The group's plan is not meant to encroach on the current negotiations, but it merely represents a backstop in the event those talks falter.