Bipartisan Lawmakers Unveil Group To Avoid US Debt Default

  • A bipartisan group of lawmakers on Wednesday unveiled a proposal to avoid a first-ever default on the national debt if House Republicans and President Biden fail to strike a deal.
  • The blueprint from the Problem Solvers Caucus – which includes 32 Republicans and 32 Democrats in the House – calls for suspending the debt ceiling through Dec. 31, 2023, and proceeding with the typical budget and appropriations cycle to “remove immediate pressure of defaulting on our national debt.”
  • In the meantime, the group of centrists would establish an independent fiscal commission to come up with a plan to deal with the $31 trillion in debt over the long term.
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