Date: May 29, 2023Author: Nwo Report
At least 34 House GOP members will vote “no” on the debt ceiling deal as it currently stands.
Posted BY: | NwoReport
After President Biden and House Speaker Kevin McCarthy (R-CA) struck a Saturday night deal to raise the debt ceiling, several Republicans outright rejected it before it could even be codified into a bill.
Here’s what’s in it;
- The deal raises the debt ceiling by roughly $4 trillion for two years, and is consistent with the structure of budget deals struck in 2015, 2018, and 2019 which simultaneously raised the debt limit.
- According to a GOP one-pager on the deal, it includes a rollback of non-defense discretionary spending to FY2022 levels, while capping topline federal spending to 1% annual growth for six years.
- After 2025 there are no budget caps, only “non-enforceable appropriations targets.”
- Defense spending would be in-line with what Biden requested in his 2024 budget proposal – roughly $900 billion.
- The deal fully funds medical care for veterans, including the Toxic Exposure Fund through the bipartisan PACT Act.
- The agreement increases the age for which food stamp recipients must seek work to be eligible, from 49 to 54, but also includes reforms to expand who is eligible.
- Claws back “tens of billions” in unspent COVID-19 funds
- Cuts IRS funding ‘without nixing the full $80 billion’ approved last year. According to the GOP, the deal will “nix the total FY23 staffing funding request for new IRS agents.”
- The deal includes energy permitting reform demanded by Republicans and Sen. Joe Manchin (D-WV)
- No new taxes, according to McCarthy.
Here’s McCarthy acting like it’s not DOA:
In the negotiations, Republicans fought for and achieved the most consequential work requirements in a generation. This is a win for taxpayers → we are no longer going to borrow money from China to pay a work-capable adult without any dependents to sit at home on their couch.
10:10 AM · May 28, 2023
Yet, Republicans who demanded deep cuts aren’t having it.
“A $4 trillion debt ceiling increase?” tweeted Rep. Andrew Clyde (R-GA). “With virtually none of the key fiscally responsible policies passed in the Limit, Save, Grow Act kept intact?”
“Hard pass. Hold the line.“
MORE HERE: https://nworeport.me/hard-pass-heres-whats-in-the-debt-ceiling-deal-republicans-are-about-to-nuke/