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GOP To Unveil Debt Ceiling Proposal Today


House Majority Leader Steve Scalise (R-LA) will unveil the GOP debt ceiling proposal today, expected to include a cap on non-defence spending, work requirements for social programmes, freezing the budget at 1% for 10 years, legislating the energy package HR1, and reclaiming COVID-19 funding.

  • Punchbowl News notes the unprecedented rhetoric, following remarks from House Speaker Kevin McCarthy (R-CA) and Senate Majority Leader Chuck Schumer (D-NY) yesterday: “... these debt limit skirmishes [...] rarely begin with the two top lawmakers in Washington warning that the worst outcome — a default — is possible."
  • The primary question is: Will McCarthy find 218 votes to push the proposal through the House? McCarthy struggled to wrangle his caucus for the Speaker vote in January and those reps will again have asymmetrical power to disrupt the vote.
  • Bear in mind, 16 of the 222 House Republicans have never voted to raise the debt ceiling - even under Trump - so McCarthy is facing a stubborn bloc, and he can only afford to drop 4 votes.
  • The White House is gambling that McCarthy will fail to pass a proposal and undermine his negotiating position.
  • More analysis in today's US Daily Brief

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