{"id":576417,"date":"2023-05-28T22:22:27","date_gmt":"2023-05-28T19:22:27","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/5-takeaways-biden-mccarthy-strike-deal-to-raise-debt-limit\/"},"modified":"2023-05-28T22:22:27","modified_gmt":"2023-05-28T19:22:27","slug":"5-takeaways-biden-mccarthy-strike-deal-to-raise-debt-limit","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/5-takeaways-biden-mccarthy-strike-deal-to-raise-debt-limit\/","title":{"rendered":"#5 takeaways: Biden, McCarthy strike deal to raise debt limit"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a38493656572\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a38493656572\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/5-takeaways-biden-mccarthy-strike-deal-to-raise-debt-limit\/#Deal_will_raise_debt_ceiling_past_election\" >Deal will raise debt ceiling past election<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/5-takeaways-biden-mccarthy-strike-deal-to-raise-debt-limit\/#Compromises_on_both_sides\" >Compromises on both sides<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/5-takeaways-biden-mccarthy-strike-deal-to-raise-debt-limit\/#Conservatives_liberals_already_pushing_back\" >Conservatives, liberals already pushing back<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/5-takeaways-biden-mccarthy-strike-deal-to-raise-debt-limit\/#Several_steps_remain_before_debt_ceiling_actually_raised\" >Several steps remain before debt ceiling actually raised<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/5-takeaways-biden-mccarthy-strike-deal-to-raise-debt-limit\/#Senate_may_work_through_weekend_to_meet_deadline\" >Senate may work through weekend to meet deadline<\/a><\/li><\/ul><\/nav><\/div>\n<p><img decoding=\"async\" src=\"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/05\/BIDENMCCARTHY.png?w=900\" \/><\/p>\n<div>\n<p>President Biden and Speaker Kevin McCarthy (R-Calif.) reached an agreement in principle to raise the debt limit Saturday night, c<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ing off days of high-stakes negotiations between emissaries for the White House and GOP conference.<\/p>\n<p>The deal raises the debt limit for two years, beefs up work requirements on federal public assistance programs and claws back unused COVID spending, among other provisions.<\/p>\n<aside class=\"ad-unit ad-unit--mr1_ab\"><\/aside>\n<p>But key steps remain before Biden can sign the agreement and avert a default ahead of next week\u2019s deadline \u2014 hurdles that are becoming more and more steep as conservatives and liberals voice concerns with the nascent deal.<\/p>\n<p>Here are five takeaways.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Deal_will_raise_debt_ceiling_past_election\"><\/span><strong>Deal will raise debt ceiling past election<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The deal struck between Biden and McCarthy raises the debt limit for two years \u2014\u00a0not by a monetary amount \u2014\u00a0punting any future battle over increasing the borrowing limit to after the 2024 presidential election, according to a source familiar with the negotiations.<\/p>\n<p>It will protect spending levels for defense and fully fund veterans\u2019 health care while increasing support for the PACT Act\u2019s toxic exposure fund by nearly $15 billion for fiscal year 2024, according to the source.\u00a0<\/p>\n<p>The Biden-McCarthy agreement is structured as a two-year budget deal and a separate two-year debt ceiling increase, the source said, an arrangement that is consistent with budget deals struck in 2015, 2018 and 2019 that addressed the borrowing limit.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Compromises_on_both_sides\"><\/span><strong>Compromises on both sides<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Both Biden and McCarthy acknowledged that neither side got what they wanted in the debt limit deal.<\/p>\n<aside class=\"ad-unit ad-unit--mr2_ab\"><\/aside>\n<p>The length of the hike marks a win for Democrats, who sought to avoid having another debt limit showdown ahead of next year\u2019s election. And they projected many programs that Republicans sought to slash, such as tax credits for green energy projects.<\/p>\n<p>But Republicans succeeded not only in getting Biden to back away from his demand for a \u201cclean\u201d debt ceiling, but secured an agreement that claws back spending and implements new work requirements on public assistance programs without having to agree to any tax increases.<\/p>\n<p>\u201cIt doesn\u2019t get everything everybody wanted, but \u2026 in divided government that\u2019s what we end up with,\u201d McCarthy said on Sunday.\u00a0<\/p>\n<aside class=\"ad-unit ad-unit--mr3_ab\"><\/aside>\n<p>Biden similarly acknowledged on Saturday that \u201cnot everyone\u201d will get what they want as part of the compromise but that the deal protects Democrats\u2019 \u201ckey priorities and legislative accomplishments.\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conservatives_liberals_already_pushing_back\"><\/span><strong>Conservatives, liberals already pushing back<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With neither side getting a perfect deal, members of both parties are pushing back.<\/p>\n<p>Rep. Pramila Jayapal (D-Wash.), chairwoman of the House Progressive Caucus, signaled on CNN\u2019s \u201cState of the Union\u201d on Sunday that there will be resistance from Democrats over provisions in the bill to beef up work requirements for public assistance programs.<\/p>\n<aside class=\"ad-unit ad-unit--mr4_ab\"><\/aside>\n<p>\u201cWe are one of the only countries in the world, if not the only country in the world, that is an industrialized country that puts any requirements on people who just want food,\u201d Jayapal said. She called it \u201cvery bad policy\u201d and expressed doubts on its impact on curbing spending.<\/p>\n<p>Rep. Ken Buck (R-Colo.) said shortly after the deal was announced on Saturday that he was \u201cappalled by the debt ceiling surrender.\u201d\u00a0<\/p>\n<p>\u201cThe bottom line is that the U.S. will have $35 trillion of debt in January, 2025,\u201d Buck\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/RepKenBuck\/status\/1662666420499664897?s=20\">tweeted<\/a>.<\/p>\n<aside class=\"ad-unit ad-unit--mr5_ab\"><\/aside>\n<h2><span class=\"ez-toc-section\" id=\"Several_steps_remain_before_debt_ceiling_actually_raised\"><\/span><strong>Several steps remain before debt ceiling actually raised<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A bill will have to pass out of the House Rules Committee before an expected House floor vote on Wednesday \u2013 keeping with the House GOP rule to have 72 hours between release of text and a vote.<\/p>\n<p>But Rep. Chip Roy (R-Texas) said in a tweet that he will try to stop the bill from passing the House. And Russ Vought, the president of Citizens for Renewing America who was instrumental in the strategy of those resisting McCarthy for Speaker in January and extracting concessions from him,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/russvought\/status\/1662693705197793280?s=20\">suggested<\/a>\u00a0that three of the 20 members who resisted McCarthy for Speaker could block the bill from coming to the House floor.<\/p>\n<p>Along with Roy, two other McCarthy detractors from the Speaker fight \u2013 Rep. Ralph Norman (R-S.C.) and Rep. Thomas Massie (R-Ky.) \u2013 sit on the House Rules Committee.<\/p>\n<aside class=\"ad-unit ad-unit--mr6_ab\"><\/aside>\n<p>But only the three Republicans could block the legislation if all four Democrats on the panel voted against the rule.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Senate_may_work_through_weekend_to_meet_deadline\"><\/span><strong>Senate may work through weekend to meet deadline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Senate Majority Leader Chuck Schumer (D-N.Y.) warned Democrats on Sunday that the chamber could work on Friday and through the weekend to pass the debt limit bill once it clears the House. The Senate is slated to reconvene from Memorial Day recess on Tuesday.<\/p>\n<p>\u201cWhen the bill passes the House, I will move to im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely begin consideration of the agreement in the Senate,\u201d Schumer wrote in a letter to Democratic colleagues. \u201cDue to the time it may take to process the legislation in the Senate without cooperation, Senators should prepare for potential Friday and weekend votes.\u201d<\/p>\n<aside class=\"ad-unit ad-unit--mr7_ab\"><\/aside>\n<p>That process, however, could be elongated if senators use procedural tools to drag out the legislative process as a way to protest the agreement. Last week, for example, Sen. Mike Lee (R-Utah)\u00a0threatened to use \u201cevery procedural tool\u201d\u00a0possible to slow-down Senate consideration of the debt limit bill should it not have \u201csubstantial spending and budgetary reforms.\u201d<\/p>\n<p>\u201cI will use every procedural tool at my disposal to impede a debt-ceiling deal that doesn\u2019t contain substantial spending and budgetary reforms. I fear things are moving in that direction. If they do, that proposal will not face smooth sailing in the Senate,\u201d Lee wrote on Twitter.<\/p>\n<p>The threat comes as lawmakers stare down a June 5 deadline, after Treasury Secretary Janet Yellen said that is the date the U.S. will run out of cash to pay its bills.<\/p>\n<\/div>\n<p>Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.<\/p>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thehill.com\/homenews\/house\/4024521-5-takeaways-biden-mccarthy-strike-deal-to-raise-debt-limit\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Biden and Speaker Kevin McCarthy (R-Calif.) reached an agreement in principle to raise the debt limit Saturday night, capping off days of high-stakes negotiations between emissaries for the White House and GOP conference. The deal raises the debt limit for two years, beefs up work requirements on federal public assistance programs and claws back&#8230;<\/p>\n","protected":false},"author":1,"featured_media":576418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/05\/BIDENMCCARTHY.png?w=1280","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[134418,116734,134471,134661,134420,90482,124783,991,35813,115,134462,79097,70289],"class_list":["post-576417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-congress-blog","tag-debt-ceiling","tag-debt-ceiling-showdown","tag-energy-environment","tag-equilibrium-sustainability","tag-house","tag-international","tag-joe-biden","tag-kevin-mccarthy","tag-news","tag-pramila-jayapal","tag-president-joe-biden","tag-senate"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/576417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=576417"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/576417\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/576418"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=576417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=576417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=576417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}