04/17/2023

House Republicans Chart New Strategy to Pressure Biden, Democrats

They have shared little on how they plan to reduce spending

U.S. House Republicans will try to agree on a plan to lift the federal $31.4 trillion debt ceiling and cut government spending when Congress returns this week, after being stymied for months by Democratic President Joe Biden's demands they do so without conditions.

House of Representatives Speaker Kevin McCarthy in a Monday speech at the New York Stock Exchange (NYSE) will lay out the conditions Republicans want Democrats to agree to in exchange for movement on the debt ceiling.

He has offered few specific details ahead of the talk, but Republicans have proposed holding annual spending growth to 1 percent for a decade, reducing regulation and boosting energy production.

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