Key takeaways:
- House Republicans are calling for spending cuts in exchange for raising the nation’s borrowing limit.
- Rep. Marjorie Taylor Greene, R-Ga., said cuts have to happen in order to pass a bill with the narrow majority.
- President Joe Biden and the Democrats have been asked to specify what exactly to cut in the federal budget.
House Republicans are calling for spending cuts in exchange for raising the nation’s borrowing limit this year. The GOP has not yet specified what cuts they would like to see, due to internal disagreements and reluctance to propose cuts to popular domestic programs.
Rep. Marjorie Taylor Greene, R-Ga., an ally of Speaker Kevin McCarthy, R-Calif., and the far right, said she has not yet formulated an exact list of cuts. She said that cuts have to happen in order to pass a bill with the narrow majority.
President Joe Biden and the Democrats have been asked to specify what exactly to cut in the federal budget. Republicans have suggested that Biden should identify wasteful spending in Washington.
The debt ceiling must be raised in order to avert a catastrophic default on U.S. debt. House Republicans are hoping to pass a bill with their narrow majority, but they must first identify what spending cuts they would like to see. It is unclear when the GOP will be able to come to an agreement on the issue.
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