(Worthy News) – House Republicans narrowly passed legislation raising the debt limit on Wednesday. The move is gambit to force President Biden to begin negotiations in earnest on cutting spending in exchange for lifting the cap on how much the government can borrow to meet expenses.
In the 217-to-215 vote, nearly every House Republican voted to raise the debt limit by $1.5 trillion until May 2024 while slashing spending by $4.8 trillion. Speaker Kevin McCarthy can only lose four votes on any single House bill before having to rely on Democrats.
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