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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Politics

Politics

Republican McCarthy will propose $1.5 trillion debt ceiling hike.

Kevin McCarthy Photo Credit: Andrew Harnik Kevin McCarthy Photo Credit: Andrew Harnik
Kevin McCarthy Photo Credit: Andrew Harnik Kevin McCarthy Photo Credit: Andrew Harnik

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Two sources say U.S. House Speaker Kevin McCarthy will announce a $1.5 trillion debt ceiling increase on Wednesday as Republicans continue to fight Democrats over the government’s borrowing limit.

A House Republican aide said McCarthy would introduce a bill to the Republican-controlled House that includes most of his Monday proposal to cut the federal budget to 2022 levels and cap spending growth at 1% in exchange for raising the $31.4 trillion limit.

Two sources say U.S. House Speaker Kevin McCarthy will announce a $1.5 trillion debt ceiling increase on Wednesday as Republicans continue to fight Democrats over the government’s borrowing limit.

A House Republican aide said McCarthy would introduce a bill to the Republican-controlled House that includes most of his Monday proposal to cut the federal budget to 2022 levels and cap spending growth at 1% in exchange for raising the $31.4 trillion limit.


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