Speaker Kevin McCarthy convened House Republicans behind closed doors Tuesday to unveil his proposal to raise the nation's debt limit as part of a package to limit future federal spending increases to 1% and other policy changes in an opening bid to draw President Joe Biden into negotiations.
The typically fractured House Republican majority has appeared surprisingly open to the plan, which McCarthy outlined in a high-profile speech at the start of the week to Wall Street. But it remains a work in progress. While the Republican proposal has almost no chance of passage in the Democratic-controlled Senate, McCarthy wants to pass the package from the House to kickstart White House talks.
