Editor TLN
First modification:
The Republican Party asserted its majority in the United States House of Representatives and achieved the approval of the bill that raises the maximum indebtedness allowed to the Federal Government, conditional on a drastic cut in spending.
The United States Lower House voted by majority in favor of one of the most pressing bills for the Joe Biden government. But he did it his way.
The so-called “McCarthy Plan” would allow adding 1.5 trillion dollars to the ceiling of the federal debt of 31.4 trillion dollars, although subject to a reduction in expenses of 4.5 trillion dollars, a condition that has been rejected outright. for the White House.
However, the chances of being approved in the Senate are slim, if one takes into account that a majority in favor of the government prevails in the Upper House. In any case, President Joe Biden, in advance, has said that, if it becomes law, this bill would be vetoed.
The condition to cut federal spending has generated controversy, with the electoral campaign just beginning and with a Democratic leader who announced this week that he will run for re-election.
The Republican leader in the House of Representatives, Kevin McCarthy, affirmed this Wednesday, April 26 that “we approved this early. We are in April, well ahead of the debt limit. We are the only party that takes fiscal measures in a sane mind that I would raise the debt limit so that we do not have economic damages.”
In January, when the United States reached its current debt ceiling, the Treasury Department approved a series of “extraordinary measures” to delay the risk of default. These financial tools are scheduled to expire on June 5.
With Reuters and EFE
