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☆ U.S. House Republicans tangle over debt limit, spending cut plans
▼ + stars: | 2023-04-18 | by ( Richard Cowan | ) www.reuters.com time to read: +4 min

Sometime this summer, the Treasury Department will be unable to manage its debt under the current $31.4 trillion limit on borrowing, according to the Biden administration and the non-partisan Congressional Budget Office. "Don't bother with partisan wish lists and unrealistic proposals that will never solve this debt default crisis," Senate Majority Leader Chuck Schumer, a Democrat, warned House Republicans in a speech to the Senate. But Mace said McCarthy showed rank-and-file Republicans a series of options, projected onto a screen, that included the possibilities of a $1 trillion or $2 trillion debt limit increase with various time frames attached. Perry said referring to a debt limit hike. Hern did not respond directly when asked whether House Republicans would pare back funding for some federal law enforcement, such as the FBI, as former President Donald Trump has urged.

☆ Republicans reportedly want to ban student loan forgiveness and make it harder to get food stamps in a debt ceiling deal — and they seem to want to do it all over again next year
▼ + stars: | 2023-04-13 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Republicans are finally reportedly ready to share their debt ceiling demands as a package. Their package would only raise the debt ceiling for a year, setting up another fight in the middle of the next election. The US is potentially mere months away from breaching the debt ceiling, meaning it'll be unable to pay for the spending that Congress has already authorized. Congress passed a clean debt ceiling raise three times under former President Donald Trump. "I'm very concerned about the debt ceiling," he said.

☆ US House speaker weighs Republican-only debt ceiling move as Biden proves immovable
▼ + stars: | 2023-03-30 | by ( David Morgan | ) www.reuters.com time to read: +5 min

"We should not be negotiating on the debt ceiling. Congress has the authority to raise the debt ceiling without conditions. He has also called on House Republicans to produce their own fiscal 2024 budget, which remains weeks - if not months - away. Polling shows Americans support using the debt ceiling talks to address the deficit - but prefer Biden's path of higher taxes. Close to 60% of respondents said the debt ceiling provides a good opportunity to push the tough issues of spending cuts or tax hikes.

☆ Fed's Powell discussed FDIC limits with House Republicans -lawmaker
▼ + stars: | 2023-03-29 | by ( Richard Cowan | ) www.reuters.com time to read: +1 min

WASHINGTON, March 29 (Reuters) - U.S. Federal Reserve Chair Jerome Powell told Republican lawmakers that Congress should re-evaluate limits on the size of federally insured bank deposits, U.S. Representative Kevin Hern said on Wednesday. "We talked about that but he said it was the role for Congress to really evaluate. Thought it was a great topic to bring up," Hern said after Powell spoke to a closed-door meeting of the Republican Study Committee. On another topic, Hern said Powell told Republicans that he believed supply chain inflation had mostly been mitigated. Reporting by Richard Cowan; Editing by Scott Malone and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

☆ How Social Security and Medicare became the latest battleground in Biden's showdown with the GOP
▼ + stars: | 2023-02-15 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +8 min

Social Security and Medicare have taken the spotlight in the battle to raise the debt limit. Then came the big question of what exactly Republicans want to cut, and Social Security and Medicare entered the frame. "So, folks, as we all apparently agree, Social Security and Medicare is off the books now. White House, Biden double down on GOP attacksThe receipts kept coming once Republicans claimed they never proposed cuts to Social Security and Medicare. It noted, though, that Social Security and Medicare "are earned benefit programs that must be saved and strengthened."

☆ AOC says she's not convinced Kevin McCarthy will actually keeps his hands off cuts to Medicare and Social Security: 'The math does not add up'
▼ + stars: | 2023-02-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Kevin McCarthy has promised that cuts to Medicare and Social Security won't be part of a debt limit deal. And while some Republicans previously expressed a desire to cut Medicare and Social Security, Speaker of the House Kevin McCarthy made clear last month that cuts to those programs are "off the table." "Second, we must commit to finding common ground on a responsible debt limit increase. Some Republicans are not quite ready to take Medicare and Social Security out of the conversation. "Think about that: they're targeting the Medicare and Social Security benefits that middle class families pay in to earn their whole lives, then turning around and giving tax handouts to big corporations."

☆ Some GOP lawmakers aren't quite ready to take Medicare and Social Security out of the debt limit battle — even after Kevin McCarthy said the matter is 'off the table'
▼ + stars: | 2023-02-06 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Kevin McCarthy previously said cuts to Medicare and Social Security are out of debt ceiling negotiations. But some House Republicans are eyeing creating panels to evaluate those programs in a debt limit deal, per Bloomberg. McCarthy and Biden met last week to discuss raising the debt limit, and Biden maintains it should be bipartisan. "If you read our Commitment to America, all we talk about is strengthening Medicare and Social Security. As Bloomberg reported on Monday, though, some House Republicans are still looking at including those programs in debt limit talks.

☆ Republicans' plans to slash Social Security and Medicare are becoming clearer: 'We have no choice but to make hard decisions'
▼ + stars: | 2023-01-25 | by ( Jason Lalljee | ) www.businessinsider.com time to read: +5 min

House Republicans have alluded to cuts they want to make to the federal budget for months. They're becoming more explicit about those cuts involving Medicare and Social Security funds. So popular, in fact, that former President Donald Trump recently warned the GOP to keep them out of debt ceiling negotiations. The White House, and Democratic lawmakers, have criticized the GOP using the debt limit to implement cuts to Medicare and Social Security. "They claim their plan to use the debt ceiling to trigger global economic chaos is about fiscal responsibility.

Share this -Link copiedMcCarthy elected speaker in 15th round McCarthy was elected House speaker Saturday shortly after midnight on the 15th ballot. Share this -Link copiedHouse reconvenes to hold 14th round of speaker votes The House has reconvened to begin the 14th round of speaker votes. Read the rest of the story, The House speaker election, in three charts. Share this -Link copiedHouse begins 13th round The House is beginning the 13th round of speaker votes. At least 14 House GOP flip to support McCarthy in twelfth speaker vote Jan. 6, 2023 01:52 Share this -Link copied

☆ GOP Rep. Matt Gaetz on his decision to vote 'present' in the final House speaker roll call vote despite his opposition to McCarthy: 'I ran out of things I could even imagine to ask for'
▼ + stars: | 2023-01-07 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Matt Gaetz was one of the last holdouts in backing challengers to Kevin McCarthy's speakership bid. Gaetz told CNN that he "ran out of things" to ask for by the end of the public leadership fight. However, by the 14th ballot — when the vast majority of the conservative holdouts had finally moved behind McCarthy — Gaetz shifted his vote from Jordan and instead recorded himself as "present." Rep. Mike Rogers of Alabama after the 14th round of voting then confronted Gaetz and appeared to lunge at the Floridian over the vote. CNN reported that Gaetz on Monday had asked McCarthy to chair a House Armed Services subcommittee, but the GOP leader had declined the request.

JOSH BRECHEEN - FLIPPEDThe Oklahoman freshman went for McCarthy on Friday afternoon, saying a deal "will allow conservatives to rein in out-of-control spending." ANDREW CLYDE - FLIPPEDClyde of Georgia is a member of the hard-right House Freedom Caucus, which is driving opposition to McCarthy. He moved to support McCarthy on Friday. ANDY BIGGS - OPPOSEDThe Arizona lawyer ran against McCarthy in the first round of voting for speaker. MATT ROSENDALE - OPPOSEDThe lone congressman from Montana has remained opposed to McCarthy, voting repeatedly for fellow Republican Kevin Hern instead.

☆ After flipping 13 votes in his favor, McCarthy loses yet another floor vote in seemingly endless speaker bid
▼ + stars: | 2023-01-06 | by ( Warren Rojas | ) www.businessinsider.com time to read: +3 min

Kevin McCarthy lost his 12th speaker ballot Friday. The converts are still reviewing rules changes McCarthy has promised in exchange for the gavel. "Watch here and you'll see some people who have been voting against me voting for me," McCarthy told reporters at the US Capitol. Republican Reps.-elect Ken Buck of Colorado and Wesley Hunt of Texas, both McCarthy supporters, were both absent Friday morning because of personal reasons. "You only earn the position if you get the votes," Gaetz said on the House floor, a taunt that caused McCarthy supporter Rep-elect Mike Bost of Illinois to shout his disapproval.

☆ Giving away more power did nothing for Kevin McCarthy, who lost his 8th House speaker ballot after further bowing to dissidents' demands
▼ + stars: | 2023-01-05 | by ( Warren Rojas | Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

Kevin McCarthy kept flailing Thursday as 20 House conservatives torched another speaker vote. Republican Rep. Josh Gottheimer, who was once a thorn in House Democrats' side, said the GOP could be in for chaos if talks could on their current trajectory. Republican Rep. Dan Crenshaw of Texas previously compared bringing back the procedural maneuver to governing "with a gun to your head." According to multiple reports, McCarthy has now agreed to let a single House Republican wield that power. This almost certainly means McCarthy would need to rely on House Democrats, a scenario that has doomed past GOP speakers.

CNN —House GOP Leader Kevin McCarthy took to Fox News primetime last week and dinged his counterpart across the Capitol: Senate GOP Leader Mitch McConnell. In the new Congress, McConnell will lead a 49-seat Senate minority while McCarthy will have 222 Republican seats in the House. That’s because McCarthy, like many other House Republicans, doesn’t want to deal with the threat of a government shutdown immediately upon entering their new majority. One Republican lawmaker pointed out that McConnell and McCarthy are dealing with different conferences and political dynamics, which explains their sometimes conflicting approaches. “Mitch McConnell and Kevin McCarthy are gonna be just fine.”

In the next Congress, white men will also lead the House GOP campaign arm, the National Congressional Campaign Committee (NRCC), and occupy other lower-tier leadership spots. The highest leadership post that Republican women or minorities have reached is chair of the GOP Conference — the No. She's expected to remain the highest-ranking GOP woman in the whole of the next Congress as well, given that white men make up all but one member of the Senate GOP leadership team. Eighty GOP women are running for House seats in these midterms. For his part, Donalds, whom Trump once called a “rising star,” has not made diversity a central part of his campaign for conference chair.

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