House Republicans Pass Debt Limit Bill
Summary from AllSides News Team
On Wednesday, House Republicans approved legislation in a 217-215 vote to extend the government's borrowing authority into 2024 and slash federal spending.
Key Details: The bill calls for trillions of dollars in spending cuts over a decade, and would extend the borrowing limit through March 31, 2024 or by $1.5 trillion, whichever comes first. It was altered to expedite the timeline for implementing new work requirements for federal benefits, and to eliminate certain tax credits for biofuels. It's unlikely to pass the Senate amid Democratic opposition.
Key Quote: “You should thank every Republican who voted for this bill because they went out and fought hard,” House Speaker Kevin McCarthy said.
For Context: Though the vote benefitted from a few Democratic absences, it also showed how McCarthy was able to unite Republicans in support despite over a dozen threatening to vote against the bill as recently as yesterday. The nonpartisan Congressional Budget Office (CBO) estimated that the bill would save $4.8 trillion over the next decade if enacted.
How the Media Covered it: Sources across the spectrum covered the vote, and framed it as a win for McCarthy even though it's unlikely to become law. Some right-rated media expressed concerns that Republicans won't hold the line on spending cuts. Some left-rated media voiced concerns over the uncertainty of averting a historic debt default in light of Senate and White House opposition.
Featured Coverage of this Story
From the Right‘Thank Every Republican’: McCarthy Takes Victory Lap Over Passage Of Debt Ceiling Bill
Republican Rep. Kevin McCarthy of California said Wednesday that Americans should “thank every Republican” for passing a debt limit bill that he said would boost the economy.
“You should thank every Republican who voted for this bill because they went out and fought hard,” McCarthy told Fox News host Sean Hannity. “For those who did not vote for the bill, they’ve gotta hold with us because it makes us weaker that we do not have 100% and we are doing exactly what we told the American people we’d do.”
From the CenterHouse GOP passes debt limit package: Five takeaways
After a week of internal sniping, House Republicans on Wednesday approved legislation in a 217-215 vote that would slash federal spending and extend the government’s borrowing authority into next year.
The package has no chance of becoming law in the face of opposition from the Senate and White House, both of which are controlled by Democrats, but it nonetheless represents a hard-fought victory for Speaker Kevin McCarthy (R-Calif.) and his leadership team.
McCarthy and his conference have demanded budget-cutting negotiations with President Biden in return for raising the debt ceiling and now have specific...
From the LeftMcCarthy passes his debt limit bill, but the path to averting default is deeply uncertain
Speaker Kevin McCarthy passed his debt ceiling bill through the House on Wednesday by a wafer-thin vote of 217 to 215, with Democrats unifying to vote against it.
But passing the bill may have deepened the impasse and made the path to averting a disastrous U.S. default even murkier.
The Democratic-controlled Senate has promised to throw McCarthy's bill in the trash, vowing not to negotiate over paying the country’s bills. President Joe Biden has threatened to veto it. But House Republicans will now be less inclined to grant a no-strings-attached debt limit hike after...