Debt Ceiling Bill Narrowly Passes Through the House Rules Committee Despite Republican Opposition

Objectivity 4.8 | Credibility 4.8 | Relevance 4.9

Despite Republican opposition, a bipartisan bill to raise the federal debt ceiling to $31.4 trillion advanced by a narrow margin through the House Rules Committee on Tuesday with a vote of 7-6, with no Democrat support.  Reps. Chip Roy (R-TX) and Ralph Norman (R-SC) sided with Democrats against the measure which would add about $4 trillion to the nation’s debt. Norman said, “This bill is smoke and mirrors.”  The current bill, the Fiscal Responsibility Act, would suspend the debt limit until January 1, 2025, and would limit non-defense discretionary spending to 1% annual growth, reclaim tens of millions in unspent COVID-19 relief funds, and reform work requirements tied to supplemental food programs. It would also cut $136 billion in federal spending, of which $1.4 billion would come from the IRS.  In addition, McCarthy negotiated another $20 billion from IRS funding to allocate for other discretionary spending programs.