- Speaker Kevin McCarthy’s (R-CA) office released the full text of the compromise debt ceiling bill late Sunday, teeing up a likely Wednesday vote on its passage.
- The bill, dubbed the Fiscal Responsibility Act of 2023, will suspend the debt ceiling for roughly two years in exchange for a slew of spending clawbacks and other reforms. Treasury Secretary Janet Yellen most recently projected that the government has until June 5 before it could start running dry on cash to meet its obligations if no debt limit hike occurs.
- Vote on 99-page Wednesday after big sales job.
Trending
McCarthy Releases Details Of Compromise Debt Increase, Spending Cutting Package
House Speaker Kevin McCarthy of Calif., speaks as he meets with President Joe Biden to discuss the debt limit in the Oval Office of the White House, Monday, May 22, 2023, in Washington. (AP Photo/Alex Brandon)
