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The Independent UK
The Independent UK
National
Kevin Freking

What's in the GOP bill to lift debt limit, cut spending

Copyright 2023 The Associated Press. All rights reserved.

House Republicans are trying to exact a price from Democrats for agreeing to increase the nation's borrowing authority and prevent the government from defaulting on the obligations it has accrued over decades. They're arguing for their priorities and going after President Joe Biden's in a separate bill.

The legislation in question has virtually no chance of becoming law. But Republicans hope passage will force Biden to the negotiating table, where they could seek concessions in return for lifting the nation’s borrowing authority and ensuring that the U.S. Treasury can fully pay its bills.

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