A top Republican in the U.S. House of Representatives predicted on Tuesday his party will overcome resistance within its ranks and muster the votes needed to adopt a plan to slash spending and raise the government's $31.4 trillion debt ceiling.
Speaker of the House Kevin McCarthy speaks at the the New York Stock Exchange in New York City, U.S., April 17, 2023. REUTERS/Brendan McDermid/File Photo/File Photo
But at least that many appeared to be withholding support as lawmakers returned to Washington on Tuesday. Republican leaders say the legislation is not open to changes and they plan to vote on it this week. "Right now we're moving forward," McCarthy told reporters. The House Rules Committee, a gatekeeper on legislation, will take up the bill on Tuesday afternoon. That could be followed by a House floor vote as early as Wednesday.
"That's the scenario that introduces the greatest amount of risk into the equation," said Rohit Kumar, co-leader of PwC's national tax office in Washington.
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