(PartiallyPolitics.com) – On Monday Speaker Kevin McCarthy (R-Calif.) took his plan for government spending and raising the debt ceiling to Wall Street, by going after President Biden.
During his remarks at the New York Stock Exchange McCarthy detailed how the House Republican Conference was going to move in the next few weeks in order to avoid the national default and instead have “the House will vote on a bill to lift the debt ceiling into the next year.” McCarthy’s remarks came on the same day that Congress returned following a two-week recess.
The Speaker noted that the plan was to try and decrease federal spending, and included a proposal to return discretionary funding levels to 2022 levels. He also proposed that over the next 10 years, growth in spending should be limited to 1 percent annually. He added that all of this would be achieved without “touching Social Security and Medicare.”
He proceeded to once again call for tougher work requirements, as many Republicans are considering possible changes to the Supplemental Nutrition Assistance Program (SNAP). As he added these are meant to function as temporary assistance and not permanent handouts.
Currently, the White House and House Republicans are at a standstill with negotiations on how to react to the debt limit being reached. The debt limit covers how much money the Treasury can go into debt in order to cover the country’s bills. Democrats have insisted that the debt ceiling needed to be raised without government spending being a part of the negotiations.
Copyright 2023, PartiallyPolitics.com