The House will vote on a bill to raise the debt ceiling through 2023 and reduce federal spending, according to House Speaker Kevin McCarthy in a speech at the New York Stock Exchange on Monday.
McCarthy stated raising the debt ceiling was conditional upon Congress limiting government spending, taking back COVID-19 aid and mandating Americans work to receive federal benefits. “Let me be clear: A no-strings-attached debt-limit increase will not pass,” he said.
“This will restore discipline to Washington,” McCarthy added.
“In the coming weeks, the House will vote on a bill to lift the debt ceiling into next year,” McCarthy said. The bill will “save taxpayers trillions of dollars, make us less dependent on China, and curb high inflation, all without touching Social Security or Medicare.”
McCarthy also committed to not raise taxes.
President Joe Biden has argued that Congress should increase the debt ceiling without making major adjustments to fiscal policy, according to The Wall Street Journal.
If lawmakers do not increase the debt ceiling, the federal government could fail to make payments on time, leading to global financial destabilization, according to the WSJ.
Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact licensing@dailycallernewsfoundation.org
Former FBI Deputy Director Dan Bongino announced in a Monday X post that he will…
Schedule Summary: President Donald Trump will visit a Ford plant and deliver a speech on…
President Donald Trump recently stated that “losing our ability to Tariff other countries who treat…
Iranian demonstrators set mosques ablaze during heated protests against the country’s Islamic government, according to…
The State Department is urging Americans to leave Venezuela after reports of armed pro-regime militias…
On Dec. 16, I testified before the House Judiciary Subcommittee at a hearing titled “Anti-American…