WASHINGTON — House Speaker Kevin McCarthy is preparing to unveil next week a plan that would suspend the nation’s debt ceiling for a year in return for spending concessions, according to people familiar with the talks.
The proposal, which would be an opening marker for negotiations with the White House and congressional Democrats, calls for a vote in the House in late May to suspend the debt ceiling until about May 2024, according to two people who asked not to be identified.
This would permit Republicans to seek another round of concessions next year in the stretch run of a presidential and congressional election year.
