House Republicans pushed their debt ceiling package to a vote as soon as Wednesday as Speaker Kevin McCarthy and his leadership team huddled with key holdouts late into Tuesday evening, working to ensure they would have majority support for passage.
Prospects for the sweeping package were buoyed by a nonpartisan Congressional Budget Office analysis showing the Republican plan would reduce federal deficits by $4.8 trillion over the decade if the proposed changes were enacted into law. The House Republican plan would lift the debt ceiling by $1.5 trillion into 2024 in exchange for steep budget cuts Democrats and even some Republicans oppose. President Joe Biden has threatened to veto the bill.
