House Republicans Pass Debt Limit Bill, But Schumer Says It's 'DOA'

House Republicans passed their "Limit, Save, Grow Act" plan on Wednesday detailing what actions they want to see before agreeing to a raise the federal debt limit through March 31, 2024, or until the debt increases by $1.5 trillion.

The bill, which passed 217-215 along party lines, was the product of weeks of negotiations between Speaker Kevin McCarthy and factions of his own party who argued that the proposal went too far in certain areas and not far enough in others. In the end, four Republicans still voted against the measure.