Published: Less than 20 min ago
The US House of Representatives on Wednesday voted through Republican proposals to raise the nation’s debt ceiling in exchange for sharp cuts in federal spending. Despite the fact that it is judged to have no chance of becoming a team.
The debt ceiling is now at $31 trillion and President Joe Biden has warned of a fiscal crisis if it is not raised.
According to the Republican proposal, the ceiling should be limited to an increase of 1.5 trillion dollars next year. The 320-page proposal also includes cuts in federal spending and restrictions on, among other things, Biden’s enforced measures to combat climate change.
The Republicans have a majority in the lower house of the country’s Congress, while the Democrats control the upper house, the Senate, and in addition the president himself sits on the right of veto.
The proposal will thus, by all accounts, not become law, but will be seen as a strategic mark against the government’s policy, intended to force the president to the negotiating table.
– We have done our job, said Republican and Speaker of the House of Representatives Kevin McCarthy after the vote.