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| | [[House]] [[conservatives]] support [[Speaker]] [[Kevin McCarthy]]'s stance taken in his February 1, 2023, meeting at the [[White House]] with President [[Biden]]: no increase in the debt ceiling unless there is an agreement to reduce federal spending.<ref>https://fortune.com/2023/02/02/mccarthy-biden-meeting-debt-ceiling-hour-default-white-house/</ref> | | [[House]] [[conservatives]] support [[Speaker]] [[Kevin McCarthy]]'s stance taken in his February 1, 2023, meeting at the [[White House]] with President [[Biden]]: no increase in the debt ceiling unless there is an agreement to reduce federal spending.<ref>https://fortune.com/2023/02/02/mccarthy-biden-meeting-debt-ceiling-hour-default-white-house/</ref> |
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| − | On April 26, 2023, the [[House]] passed a [[Republican]]-led debt ceiling increase bill that would reportedly trim $4.8 trillion from the deficit.<ref>https://rollcall.com/2023/04/26/house-passes-1-5-trillion-debt-limit-increase-spending-cuts/</ref> The vote was 217-215, with every [[Dem]] voting against this. | + | On April 26, 2023, the [[House]] passed a [[Republican]]-led debt ceiling increase bill that would reportedly trim $4.8 trillion from the deficit.<ref name="RC">https://rollcall.com/2023/04/26/house-passes-1-5-trillion-debt-limit-increase-spending-cuts/</ref> The vote was 217-215, with every [[Dem]] voting against this. As reported by ''RollCall'', key elements of this bill included:<ref name="RC"/> |
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| | + | *either increasing the debt limit by $1.5 trillion or extending it through March 2024. |
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| | + | *limiting discretionary spending for ten years, beginning with a $1.47 trillion maximum for fiscal 2024 with 1% annual growth for each of the next 9 years. This would initiate $131 billion reduction from current levels. |
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| | + | *Rescinding energy tax credit provisions from Dems' 2022 climate law, except preserving some biofuel provisions for the [[Midwest]] farmers. |
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| | + | *repealing unspent [[COVID-19]] relief and unobligated IRS tax enforcement funds, plus unspent climate-related grant funding in the 2022 law. |
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| | + | *canceling Biden’s forgiveness plan for student loans (which the [[U.S. Supreme Court]] seems likely to strike down anyway). |
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| | + | *expanding requirements to work in the Supplemental Nutrition Assistance Program and Temporary Assistance for Needy Families, while also imposing new regulations for beneficiaries of Medicaid. |
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| | + | *spurring domestic energy production while redoing permitting for infrastructure and revamping energy rules. |
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| | + | *establishment requirements for authorization by [[Congress]] prior to imposing new major regulatory schemes. |
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| | == Liberal hysteria and History == | | == Liberal hysteria and History == |