Kevin McCarthy Unveils Plan To ‘Responsibly’ Raise Debt Limit

House Republicans released their long-awaited proposal to avert a debt ceiling crisis in a bid to end a standoff with the White House.

The 320-page “Limit, Save, Grow Act of 2023,” introduced by GOP leadership on Wednesday, would lift the U.S. debt limit by $1.5 trillion or until March 31, 2024 — whichever comes first. As a trade-off, Republicans want a variety of spending cuts and commitments aimed at fostering economic growth.

Speaker Kevin McCarthy (R-CA) delivered remarks on the House floor, explaining that the legislation led by Budget Chairman...