Republicans seek to raise debt limit until May 2024 as GOP proposal begins to take shape: Report
Ryan King
Republicans' plan on a pathway to lift the debt ceiling is taking shape ahead of lawmakers' return to Congress next week.
Under the current proposals, the GOP is planning to extend the debt limit until roughly May 2024 so long as it is paired with dramatic rollbacks in spending, such as a limit in budgetary growth to 1% a year over the next decade, Puck News reported. Such an offer is almost certainly dead on arrival.
The plan being crafted also appears to take aim at some of Biden's gains, including slashing certain green tax credits, barring student loan forgiveness, imposing work requirements for government benefits, scrapping unspent COVID-19 funds, and enacting the GOP's energy plan, per the report.
Another measure reportedly being considered is a $584 billion cap on nondefense discretionary expenses. Rep. Garret Graves (R-LA) has been spearheading efforts to hash out the details of the proposal.
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https://www.washingtonexaminer.com/news/house/republicans-first-debt-limit-offer-feature-dramatic-cuts
