Debt Ceiling Text Released
On April 19, Speaker Kevin McCarthy (R-CA) unveiled the bill text of his proposal for raising the debt ceiling, cutting federal spending and negating some of President Biden’s priorities and initiatives.
The Speaker plans to bring the bill to the House floor for a vote this week even though it is unclear that even with the Republican caucus there are enough votes to pass the proposal. Republicans have 222 votes, and 218 are needed to pass.
The proposal is estimated to save over $4.5 trillion and includes a proposal to require Medicaid work requirements.
