House Speaker Kevin McCarthy (R-Calif.) vowed Monday that while President Biden “continues to hide, House Republicans will take action” on a plan meant to limit federal borrowing to one…
House Speaker Kevin McCarthy vowed Monday that while President Biden “continues to hide, House Republicans will take action” on a plan meant to limit federal borrowing to one year and reduce government spending.
The speaker in March suggested cutting non-defense spending back to pre-inflationary levels and introducing more work requirements for some welfare programs. Also in January, Treasury Secretary Janet Yellen said the federal borrowing limit will need to be increased by June of this year to prevent a default on America’s national debt.
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