Conservatives Furious As Lawmakers Close In On Debt Limit Deal

by | May 25, 2023 | Politics

WASHINGTON — Hard-line conservative Republicans are anxious about a possible deal between House Speaker Kevin McCarthy (R-Calif.) and President Joe Biden that would avert a catastrophic debt default.The arrangement would raise the government’s debt ceiling through next year, depriving Republicans of another chance to take it hostage before 2024.Advertisement“They want to move it past the presidential election,” Rep. Ralph Norman (R-S.C.), a member of the far-right House Freedom Caucus, told HuffPost on Thursday.Speaking to reporters, Norman and others in his party said they’d just heard that negotiators were leaning toward a larger debt ceiling increase than Republicans previously supported in exchange for unspecified spending cuts.Earlier this month, the House passed the Limit, Save, Grow Act, a Republican bill that would have cut federal spending, imposed so-called work requirements on federal safety net programs, and allowed the Treasury Department to continue borrowing money until next spring. The bill would lift the debt ceiling by $1.5 trillion or until March 31, 2024, whichever comes first.“I am concerned about rumors to the effect — and I haven’t read or seen anything yet — but rumors that we may have some sort of a deal in place that would raise the debt limit for more than what was called for in Limit, Save, Grow for a whole lot less in return,” said Rep. Bob Good (R-Va.).Advertisement“If that were true, that would absolutely collapse the Republican majority for this debt ceiling increase.”Later on Thursday, Freedom Caucus members sent a letter to McCarthy calling the larger proposed debt ceiling hike “outrageous” and urging the speaker to make new demands for tougher border policy. The letter also suggested a stopgap bill combining spending cuts and a brief postponement of the debt ceiling deadlin …

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