House Republican leadership suggests progress on an agreement on the debt limit

According to Punchbowl News:

  • Republican leadership has proposed a plan addressing the debt limit.
  • The proposal includes raising the debt limit by $1.5 trillion in the first reconciliation package.
  • It also promises to cut $2.5 trillion in net mandatory spending through the reconciliation process.

Statements from Key Figures:

  • House Majority Leader Steve Scalise: if not today, they will act tomorrow

  • House Speaker Mike Johnson:Johnson has reportedly discussed a new funding plan with the President electronically, though details remain unclear.

The White House’s Response:

  • The White House has urged Republicans to adhere to the existing bipartisan deal to keep the government open.
  • Officials stress that there is still time to avoid a government shutdown.

This article was written by Greg Michalowski at www.forexlive.com.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *