Republicans have expressed frustration that Biden has been slow to respond to their request to negotiate over the debt limit. At a press conference, House Minority Leader Hakeem Jeffries called the bill a “ransom note,” and repeated Biden’s assertion that Democrats would negotiate over spending only as part of the budget process and not as part of negotiations over a debt limit increase. The savings come from provisions like ending Biden’s student loan cancelation program, returning discretionary spending to 2022 levels, repealing green energy tax credits and expanding work requirements for federal programs like Medicaid and food stamps.ĭemocrats have blasted the bill over the cuts included. The bill, called the “Limit, Save, Grow Act,” increases the debt ceiling by $1.5 trillion in exchange for $4.8 trillion in cuts over the next 10 years.

Lee called the House Republican bill a “great piece of legislation.” “That’s all we’re trying to fix at the end of the day.” “The whole reason why we’re in all this trouble with inflation is because of runaway spending,” he said. In an interview with KSL Radio’s Boyd Matheson on Monday, Lee said Republicans were looking to help calm inflation through debt ceiling negotiations, because the government has been “effectively printing more money.” The White House is going to have to come to the table and have real talks with /QLwKdUwFQ9- Mike Lee May 7, 2023 It is imperative that the president now do the same,” the letter from 43 Senate Republicans says.Ĥ3 Senate Republicans have signed a letter refusing to advance any bill that raises the debt ceiling without substantive spending and budget reforms.

“The House has taken a responsible first step in coming to the table with their proposals. Lee and other senators say they won’t raise the debt limit without “substantive spending and budget reforms.” He has threatened to veto the House bill that raises the debt ceiling but also includes spending cuts and other reforms. With 43 senators signing on to the letter, including Senate Minority Leader Mitch McConnell, Schumer is unlikely to have the votes to move a condition-free debt ceiling bill to a vote.īiden has said repeatedly that he wants a “clean” bill - meaning a bill that only raises the debt limit and has no conditions attached. It says Republicans in the Senate are “united behind the House Republican conference in support of spending cuts and structural budget reform as a starting point for negotiations on the debt ceiling.” The letter, sent to Democratic Senate Majority Leader Chuck Schumer, was initiated by Utah Sen. With President Joe Biden set to meet Tuesday with House Speaker Kevin McCarthy to discuss a debt ceiling increase, a letter signed by 43 Republican senators puts additional pressure on the president to agree to cuts as part of the negotiations.

Have a little faith mitch