• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Lawmakers react to debt ceiling deal reached between House GOP and Biden
Economy

Lawmakers react to debt ceiling deal reached between House GOP and Biden

by May 29, 2023
by May 29, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Washington leaders responded on Sunday to the bipartisan Fiscal Responsibility Act, a deal reached between House Speaker Kevin McCarthy, R-Calif., and President Biden to evade defaulting on the country’s financial obligations.

Both McCarthy and Biden held their posture as long as they could with a looming deadline of June 5, and on Sunday, reached a final agreement with just days to spare.

‘The Fiscal Responsibility Act does what is responsible for our kids, what is possible in divided government, & what is required by our principles,’ McCarthy said on Twitter. ‘Republican resolve achieved this transformative change to how Washington works.’

Senate Republican Leader Mitch McConnell of Kentucky issued a statement in response to the agreement on Sunday evening.

‘The United States of America will not default on its debt,’ he said. ‘Today’s agreement makes urgent progress toward preserving our nation’s full faith and credit and a much-needed step toward getting its financial house in order.’

McConnell added he was grateful for McCarthy and other House Republicans for working to ensure the debt limit increase includes steps to ‘rein in’ the reckless spending of Democrats in Washington, D.C.

‘This agreement the Speaker reached with President Bident sets meaningful limits on the Administration’s spending agenda,’ McConnell said. ‘At the same time, it secures permitting reforms and introduces the link between federal assistance and work.’

As a unit, McCarthy and other House GOP leaders – Majority Leader Steve Scalise (R-La), Majority Whip Tom Emmer (R-Minn.), and Republican Conference Chairwoman Elise Stefanik (R-N.Y.)  – issued a statement regarding the new bill.

The group credits House Republicans with stopping ‘out-of-control’ spending that has crippled family budgets by securing a series of historic wins.

Those wins, the group said, include cutting spending year-over year for the first time in over 10 years while funding national defense and health benefits for veterans, and ‘clawing back billions’ of unspent COVID funds.

READ THE TEXT HERE:

‘We enact for the first time into law ‘Pay-Go’ rules for the Executive Branch, which forces the Executive Branch to find dollar-for-dollar savings in government for costly rules and regulations, so that executive overreach is reined in and held accountable,’ the statement reads. ‘We are just 140 days into this Republican majority. And we’re just getting started.’

But not all Republican House members were ready to jump in celebration because of the deal, including Lauren Boebert, R-Colo., who posted to Twitter earlier in the day.

‘The usual establishment people are popping champagne over this debt ceiling deal,’ she said. ‘It’s more worthy of a Bud Light.’

House Minority Leader Hakeem Jeffries, D-N.Y., also tweeted earlier in the day.

‘Thankful that President Biden has reached an agreement in principle to prevent a devastating GOP-manufactured default,’ he said. ‘Look forward to reviewing the legislative bill text once it is released this afternoon. And continuing our work to put people over politics.’

The 99-page bill was released just before 7:30 p.m. on Sunday.

The House Rules Committee will meet at 3 p.m. on Tuesday to prepare the debt ceiling bill for a debate on the floor Wednesday, Fox News has learend.

Fox News’ Chad Pergram contributed to this report.

Greg Wehner is a breaking news reporter for Fox News Digital.

This post appeared first on FOX NEWS
You Might Also Like
  • MA launches ‘green bank dedicated to affordable housing’ in effort to address climate change, housing market
  • GOP blasts Dems’ ‘out-of-touch’ warning of no more White House Correspondents’ Dinners if Trump wins election
  • Taiwan election: Ruling party candidate wins tightly contested presidential race, upsetting China’s ambitions
  • Critics rip DeSantis for Trump comment they say makes him sound like ‘Crooked Hillary’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Biden, McCarthy reach debt ceiling deal to avoid default: Here’s what’s in it
next post
Republicans secure massive gas pipeline approval in debt ceiling deal

You may also like

Biden’s foreign policy challenges in 2023: China, Russia and war...

December 31, 2023

Biden’s approval rating sinks over Israel-Hamas war; support for Trump...

November 16, 2023

Tuberville says House GOP must ‘not waste time’ with Biden...

September 13, 2023

18 state AGs urge Senate to reject Nancy Abudu’s judicial...

March 24, 2023

Some conservatives have surprising ‘Barbie’ take despite criticisms of liberal...

August 7, 2023

Celebrities have ‘incredibly powerful’ ability to influence election: Harvard study

August 15, 2024

Montana Republicans condemn ‘hate-filled’ remarks by transgender Rep. Zooey Zephyr:...

April 23, 2023

One of Trump’s most controversial campaign managers is back but...

May 22, 2024

Border Patrol union head says reported Biden plan to keep...

September 10, 2023

Biden admin allows immigrants to select gender identity other than...

April 2, 2023

Biden’s foreign policy challenges in 2023: China, Russia and war...

December 31, 2023

Biden’s approval rating sinks over Israel-Hamas war; support for Trump...

November 16, 2023

Tuberville says House GOP must ‘not waste time’ with Biden...

September 13, 2023

18 state AGs urge Senate to reject Nancy Abudu’s judicial...

March 24, 2023

Some conservatives have surprising ‘Barbie’ take despite criticisms of liberal...

August 7, 2023

Celebrities have ‘incredibly powerful’ ability to influence election: Harvard study

August 15, 2024

Montana Republicans condemn ‘hate-filled’ remarks by transgender Rep. Zooey Zephyr:...

April 23, 2023

One of Trump’s most controversial campaign managers is back but...

May 22, 2024

Border Patrol union head says reported Biden plan to keep...

September 10, 2023

Biden admin allows immigrants to select gender identity other than...

April 2, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Fortnite applies to launch on Apple’s App Store after Epic Games court win

      May 11, 2025
    • Week Ahead: NIFTY Stays In Technically Challanging Environment; Price Action Against These Levels Crucial

      May 11, 2025
    • Cargo thieves are attacking the U.S. supply chain at alarming rates

      May 10, 2025
    • Where the Market Goes Next: Key Resistance Levels + Top Bullish Stocks to Watch Now

      May 10, 2025
    • Recession Ahead? Sector Rotation Model Warns of Rising Risk

      May 10, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,635 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,323 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,068)
    • Investing (538)
    • Stock (2,537)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Fortnite applies to launch on Apple’s App Store after Epic...

      May 11, 2025
    • Week Ahead: NIFTY Stays In Technically Challanging Environment; Price Action...

      May 11, 2025
    • Cargo thieves are attacking the U.S. supply chain at alarming...

      May 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,068)
    • Investing (538)
    • Stock (2,537)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Trump claims he wouldn’t pick any...

    September 29, 2023

    Sen. Peter Welch says Israel ground...

    October 24, 2023

    Trump classified documents judge rules on...

    June 11, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here