The Republican Speaker of the House of Representatives USAKevin McCarthy, said on Sunday that his spending and debt bill would be voted on in the week, and invited the president Joe Biden to discuss the debt limit with him.
McCarthy presented a plan last week that It would combine $4.5 trillion in spending cuts with a $1.5 trillion increase in the US debt limit, which stands at $31.4 trillion.
Biden and the Democratic-controlled Senate are likely to reject the proposal, but McCarthy has called it the basis for bipartisan negotiations in the coming weeks.
If the debt limit is not raised, the United States would default on its financial obligations, which would shake the world economy.
Financial markets have already shown concern about stagnation, with the cost of insuring exposure to US debt at its highest level in a decade and financial analysts expressing concern about rising default risk.
Republicans have a narrow majority in the House of Representativesbut McCarthy was confident of getting enough votes to approve his project in the chamber.
“I can’t imagine anyone in our group wanting to support Biden’s reckless spending”McCarthy told Fox News in an interview Sunday.
Democratic Senators Amy Klobuchar and dick durbin They also urged negotiations between Biden and McCarthy on Sunday, but said McCarthy’s proposal was more appropriate for budget debates than the debt ceiling. (Reporting by Kanishka Singh; additional reporting by Ted Hesson and David Lawder Editing in Spanish by Javier López de Lérida).
Prepared with information from Reuters Agency
Source: Gestion
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