Speaker McCarthy To Deliver Remarks On Debt Limit At NYSE

10:00 ET 15:00 BST: House Speaker Kevin McCarthy (R-CA) will deliver an address to the New York Stock Exchange on the economy and debt limit with as little as seven weeks until the federal government nudges into the debt ceiling.

• Livestream: CSPAN Link
• McCarthy will say: “We are seeing in real-time the effects of reckless government spending... President Biden has been missing in action and misleading the public.... This is not how the leader of the free world should act.”
• McCarthy’s address comes as he prepares to introduce a year-long extension to the debt limit in return for spending cuts, which, according to Punchbowl, will: “Cap non-defense discretionary spending at $584 billion; limit budget growth to 1% annually for the next 10 years; prohibit student loan forgiveness; repeal green tax credits; institute work requirements for social programs; enact H.R. 1, and pass the REINS Act, which is designed to reduce federal regulation.”
• Note: A year-long extension would delay debt limit negotiations until a critical period of the 2024 campaign.
• Senate Majority Leader Chuck Schumer (D-NY) will respond to McCarthy’s address early this afternoon.