House group proposes plan to avoid U.S. default, Biden urges clean debt limit bill.
The bipartisan Problem Solvers Caucus has proposed a four-step plan to avoid a default on US debt if the government's debt limit isn't increased when it's expected to be reached, possibly within a couple of months. The plan includes suspending the debt ceiling through Dec. 31, 2023, and establishing an independent commission to recommend a package to stabilize the debt and deficit, among other measures. However, congressional leadership in both parties has shown little interest in coming together on such a plan. House GOP leaders say they plan to hold a vote on a debt ceiling bill as soon as next week.