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14:20 ET 19:20 BST: Speaker McCarthy To Outline Debt Ceiling Proposal


14:20 ET 19:20 BST: House Speaker Kevin McCarthy (R-CA) is set to outline his debt limit proposal on the floor of the House of Representatives in approximately 20 mins.

  • Live House proceedings can be followed here:
  • McCarthy tweeted: "I'm headed to the House floor soon to announce the Limit, Save, Grow Act, which will responsibly lift the debt ceiling into next year and: LIMIT federal spending SAVE taxpayers trillions of dollars GROW our economy."
  • McCarthy's proposal is expected to call for a short-term debt limit raise of USD$1.5 trillion or until March 31, 2024, whichever comes first.
  • White House Press Secretary Karine Jean-Pierre indicated to reporters a short time ago that the White House position on refusing to negotiate with the GOP will not change, despite the release of a Republican plan: "We've heard that this is coming out today but we've been very clear about what MAGA Republicans have been doing these past couple of months."
  • More information in today's US Daily Brief

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