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Axios
Axios
Politics

McCarthy plans vote to raise debt ceiling into 2024

Kevin McCarthy Joe Biden the New York Stock Exchange the White House Andrew Bates United States

House Speaker Kevin McCarthy (R-Calif.) said Monday the House will vote on a bill to raise the debt ceiling through 2023 and cut government spending.

Why it matters: The U.S. is expected to reach its fiscal cliff this summer, heightening the need for a solution on the debt ceiling in the coming months to stave off default.

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