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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