Kevin McCarthy Got His Debt Limit Win—Now Comes the Hard Part
After months of planning, weeks of frenetic negotiating, and days of doubtful speculation, House Republicans on Wednesday passed a bill—barely—to lift the federal government’s debt limit and drastically cut spending.
Now comes the difficult part.
The hard-fought “Limit, Save, Grow Act” is merely Speaker Kevin McCarthy’s opening bid to kickstart negotiations with President Joe Biden to secure deep budget cuts in exchange for not crashing the U.S. economy by refusing to raise the debt ceiling. Biden has said he will negotiate over spending, not over the debt limit.