House Speaker Kevin McCarthy unveils long-awaited GOP proposal to lift the debt limit and enact federal spending cuts.
Speaker of the House Kevin McCarthy speaks in New York City, April 17, 2023.House Speaker Kevin McCarthy on Wednesday unveiled a long-awaited GOP proposal to lift the debt limit and enact federal spending cuts.
Speaking on the House floor, McCarthy outlined what's included in the so-called Limit, Save, Grow Act, designed to raise the debt limit into next year and also provide more than $4.5 trillion in savings. "The American people have elected a divided government, and our government is a divine compromise," McCarthy said. "That is why the House, the Senate and the White House should be negotiating a responsible debt limit increase right now."Brendan Mcdermid/Reuters, FILEprovided by the Inflation Reduction Act, end green tax credits and put in place stricter work requirements for federal aid programs.
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