House Narrowly Approves Debt-Ceiling Bill

This past week House Republicans narrowly passed their proposal to increase the debt ceiling until April 1, 2024.  The proposal would increase the debt ceiling by $1.5T and be linked to proposed cuts that would total over $4.5T over a 10-year period. In fact, the day before the vote, the Republican leadership got a big boost when the non-partisan Congressional Budget Office (CBO) estimated that the cuts in the bill could reduce spending by $4.8T over 10 years.

Passing the debt-ceil...

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