GOP's Debt Ceiling Bill Estimated to Save $4.8 Trillion Over 10 Years
The Congressional Budget Office estimates that the GOP-backed "Limit, Save, Grow Act of 2023" could save about $4.8 trillion towards deficit reduction over the next 10 years. The package includes a debt limit increase and various partisan proposals aimed at curbing government spending, such as capping future discretionary funding and rolling back portions of Democrats' signature economic bill. The bill faces resistance from within the Republican party, and its chances of passage are uncertain. Republicans see the measure as an opening position for debt limit talks with Democrats, who have pressed for a "clean" measure to raise the debt ceiling.