GOP releases debt ceiling bill to protect taxpayers.

The legislative text of the debt-limit compromise includes some surprises and curveballs, such as approving the Mountain Valley Pipeline, trimming $21.4 billion from the IRS funding, applying Congress' "pay as you go" rule to executive actions, tightening restrictions for the Supplemental Nutrition Assistance Program, and forcing the Biden administration to resume collecting federal student loan payments and interest. The bill also includes modest updates to environmental permitting rules and sets new limits on federal spending. The legislation will be taken up by Congress just days before the deadline to avert a first-ever default on the national debt.