7 Takeaways From the House GOP’s Debt Ceiling Success – By Yuval Rosenberg (The Fiscal Times) / April 27, 2023
“We’ve done our job,” House Speaker Kevin McCarthy (R-CA) told reporters yesterday after 217 Republicans votes to pass legislation that would increase the debt limit into next year, cut trillions in federal spending and enact a number of other conservative policy changes.
Only the job isn’t done. The House bill will go nowhere in the Senate and still leaves massive uncertainty over how the debt limit ultimately gets raised, as it must before long.
What Republicans are celebrating: “Since the bill in question is absolutely dead on arrival in the Senate and at the White House, the celebrating is actually about Kevin McCarthy’s Speakership surviving for another day, and right-wing members flexing their power,” writes Ed Kilgore at New York.
There may be just a bit more to it. “McCarthy also secured an extremely useful talking point,” write Jake Sherman and John Bresnahan at Punchbowl News. “No matter how right-leaning and unrealistic the 320-page package is, House Republicans are the only ones to have passed legislation to lift the nation’s borrowing cap. McCarthy plans now to sit, pat and slam Senate Majority Leader Chuck Schumer for doing nothing and President Joe Biden for refusing to negotiate.”
CONTINUE > https://www.thefiscaltimes.com/2023/04/27/7-Takeaways-House-GOP-s-Debt-Ceiling-Success
