Republican Speaker of the US House of Representatives Kevin McCarthy said on Sunday that his spending and debt bill will be voted on this week, and invited President Joe Biden to discuss the debt limit with him.
McCarthy last week presented a plan combining $4.5 trillion in spending cuts with a $1.5 trillion increase in the US debt limit, which stands at $31.4 trillion.
Biden and the Democratic-controlled Senate are likely to reject the proposal, but McCarthy has called it the basis for bipartisan negotiations in the coming weeks.
If the debt limit is not raised, the United States would default on its financial obligations, which would shake the world economy.
Financial markets have already shown concern about stagnation, with the cost of insuring exposure to US debt at its highest level in a decade and financial analysts expressing concern about rising default risk.
The Republicans have a narrow majority in the House of Representatives, but McCarthy was confident of getting enough votes to pass his bill on the floor.
“I can’t imagine anyone in our group wanting to support Biden’s reckless spending,” McCarthy told Fox News in an interview on Sunday.
Democratic Sens. Amy Klobuchar and Dick Durbin also urged negotiations between Biden and McCarthy on Sunday, but said McCarthy’s proposal was more appropriate for budget debates than the debt ceiling.
[Con información de Reuters]
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