The sole piece of legislation raising the national debt ceiling presently being considered by Congress, which is being spearheaded by House Republicans, is in danger of a veto from the White House.
The Republican-led legislation to increase the debt limit and reduce government spending was denounced by the White House within a Statement of Administration Policy as “a careless attempt to gain severe concessions as that of a condition for our country simply repaying the bills it has previously incurred,” and the administration pledged to veto the bill if it reached President Biden’s desk.
The 2023 Limit, Save, and Grow Act would increase the debt limit while addressing the national deficit in America. The GOP’s plan would reduce government spending by about $130 billion during the upcoming year while raising the debt limit to around $1.5 trillion.
The White House declared that “the President has made it clear that he will not tolerate these attempts of hostage-taking,” before alleging that the GOP will be to blame if the county fails. “The debt ceiling must be discussed by House Republicans without demands or restrictions, exactly as Congress achieved three times during the last Administration.”
The White House said that “the proposal would cause severe cutbacks to programs that the hard-working Americans and members of the middle class depend on, risking recession, default, widespread job losses, and years of increased interest rates.”
Despite the California congressman asking the White House to organize meetings to discuss the issue, Biden has declined to meet with House Speaker Kevin McCarthy (R-CA) over the national debt ceiling. Senator Joe Manchin (D-WV), who will soon be up for reelection in a GOP leaning state, recently criticized Biden’s “deficiency of leadership” for not meeting with the Speaker.
The plan will go to the floor for a vote this week, according to the House Republican leadership, and will require 218 votes to succeed with his four-seat majority. The Senate, however, will have trouble approving the bill because Democrats now have a 51 to 49 majority there.