The Uncertainty of McCarthy's Debt Ceiling Plan for US Economy

1 min read
Source: Axios
The Uncertainty of McCarthy's Debt Ceiling Plan for US Economy
Photo: Axios
TL;DR Summary

House Speaker Kevin McCarthy faces a challenge in getting the 218 votes he needs to pass a proposed debt ceiling increase by his new self-imposed deadline, as a half-dozen House Republicans have reservations about the incomplete proposal. GOP leadership unveiled their proposal to raise the debt ceiling into 2024 while slashing spending, but some Republicans want more aggressive cuts, while others are uncomfortable with the whole enterprise. McCarthy is far from where he needs to be in terms of floor vote math, but even his detractors say it's possible they could come together.

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