Right-wing Republicans said on Tuesday they oppose a bipartisan deal to raise the $31.4 trillion U.S. debt ceiling ahead of its first test in Congress, setting up a nail-biting week before the United States potentially runs out of money to pay its bills.
ahead of its first test in Congress, setting up a nail-biting week before the United States potentially runs out of money to pay its bills.
But one hardline member of the panel said he would vote against the bill, saying it does too little to cut spending. The four Democrats on the panel typically vote against Republican-backed legislation, but it is not clear whether they would oppose a deal that had been crafted by Biden. The bill would suspend the U.S. debt limit through Jan. 1, 2025, allowing Biden and lawmakers to set aside the politically risky issue until after the November 2024 presidential election.
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