Republican leaders try to quell debt deal rebellion as US countdown to default

Republican House Speaker Kevin McCarthy was trying to fend off a rebellion of right-wing lawmakers opposing his loan deal with President Joe Biden on Sunday, as both sides sold their parties on a deal to prevent US defaults. went to

McCarthy defended the accord ahead of a high-stakes vote on Wednesday in the lower chamber of Congress, just days before the US is predicted to run out of cash to pay all its bills on June 5. .

Some rank-and-file Republicans are fuming over the agreement, saying it severely undercuts the party’s initial demands in exchange for an increase in the debt ceiling.

Much of the resistance comes from the hard-wing Freedom Caucus, which includes many allies and lawmakers of former President Donald Trump, who opposed McCarthy’s campaign to become president at the beginning of the year.

South Carolina Republican Ralph Norman said in a tweet, “This ‘deal’ is madness.” “Will not vote to bankrupt our country. The American people deserve better.

Nevertheless, McCarthy predicted that he would earn the support of enough members of his party for the agreement, saying that “95 percent” of Republican members were “very excited” about the deal. He also expected the support of some Democrats.

“Maybe it doesn’t do everything for everyone. But it’s a step in the right direction that no one thought we’d get to where we are today.” fox news sunday, “This is a good bill for the American public.”

Failure to pass the law could trigger turmoil in financial markets as it hurtles the US toward the “X-date” on June 5, when the Treasury is expected to run out of cash to pay all its bills. Is.

Even if some Republican defections are expected, McCarthy needs to prevent the backlash from spreading in a way that could jeopardize the vote or lead to an attempt to oust him as speaker. Go

McCarthy had promised lawmakers at least 72 hours to consider any legislation, meaning uncertainty and debate over the fate of the debt ceiling bill would last another three days.

“It deserves the American people. I want them to read it. I want them to understand it,” McCarthy said.

The agreement extends the debt ceiling until 2025, and sets caps on non-defense spending for the next two fiscal years, while allowing the Pentagon’s budget to grow in line with Biden’s plan.

It also adds new work requirements to some Social Safety Net programs, speeds up environmental reviews for large projects and returns part of the funding increase to the Internal Revenue Service so it can more aggressively target wealthy Americans and big businesses. Can check

But Biden’s flagship economic legislation from the past two years, including clean energy tax credits, was rejected by the White House along with Republican efforts to make more long-term spending cuts.

As McCarthy sought to rally his lawmakers to support the deal, White House officials also tried to persuade as many Democrats as possible to back the deal.

House Democrats were scheduled to hold a briefing with White House officials at 5 p.m. Sunday.

Some Democratic lawmakers have also complained that Biden conceded a lot in the talks, without getting much in return.

Jim Himes, a Connecticut Democrat, said, “Nothing in the bill is a Democrat priority.” fox news sunday,