Speaker of the House Kevin McCarthy (R-Calif.) said he’s confident he can garner the votes for a tentative debt ceiling deal between Republicans and President Joe Biden.
On the evening of May 27, McCarthy announced during a press conference that he and Biden had reached what he called “an agreement in principle that’s worthy of the American people” to raise the debt ceiling. In addition to raising the debt ceiling, the bill would cap non-defense spending at its previous levels, enhance work requirements for government assistance, and reclaim unspent COVID-19 relief funds, among other measures.
According to Treasury Secretary Janet Yellen, Congress has until June 5, a date she called a “hard” deadline, to raise the debt ceiling and avoid a default. Such a default would decimate the value of an already-debased U.S. dollar.
The tentative deal is one that leaves neither Republicans nor Democrats entirely happy, and congressional leaders still face the challenge of advancing the deal through both chambers.
Nevertheless, McCarthy seemed confident he could get the bill over the finish line.
“I think you are going to get a majority of Republicans voting for this bill,” McCarthy said on Fox News Sunday.
McCarthy said that though he’s been in regular communication with House Minority Leader Hakeem Jeffries (D-N.Y.), he has not yet asked Democrats for support to get the bill over the finish line in the House.
“Right now, the Democrats are very upset. The one thing Hakeem told me: ‘There is nothing in the bill for them,’” McCarthy said.
Democrats have pushed for a “clean” debt ceiling increase with no strings attached. For months, Biden refused to negotiate, demanding that Republicans concede on the issue and pass a clean package.
Divisions
The compromise arrangement has also proved divisive for Republicans, several of whom say they won’t vote for it.
Rep. Ken Buck (R-Colo.) called it a “surrender.”
“Our base didn’t volunteer, door knock and fight so hard to get us the majority for this kind of compromise deal with Joe Biden,” Rep. Lauren Boebert (R-Colo.) said on Twitter. “Our voters deserve better than this. We work for them. You can count me as a NO on this deal. We can do better.”
By Joseph Lord
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