MNI BRIEF: Senate GOP Signal Tying Spending Cuts to Debt Limit

Senate Republicans on Wednesday voted to add language to their own caucus rules to support the idea of one-for-one spending cuts or meaningful structural reforms for raising the debt limit that is currently set to lapse July 31.

The caucus rules are non-binding but the vote is a pivot from the hands-off approach that Republicans took under former President Donald Trump. Some Democrats earlier on Wednesday suggested bypassing Republicans and raising the debt limit via reconciliation, a process that would require a simple majority.

"I think that is a step in the right direction in terms of reigning in out of control spending," Texas Senator Ted Cruz told reporters after the caucus meeting. Senator Richard Shelby (R-AL) said: "Its a good statement, but its probably meaningless."

Florida Senator Rick Scott's office provided the following as adopted:

AMENDMENT LANGUAGE:

"Resolved, it is the policy of the Republican Conference that any increase in the debt ceiling should be accompanied by cuts in federal spending of an equal or greater amount as the debt ceiling increase, or meaningful structural reform in spending, such as the Prevent Government Shutdown Act or the Full Faith & Credit Act."