Leaders of the Republicans of the House are starting to move in the background to start getting support for a plan to raise the ceiling of debt for one year. However, it will involve a massive amount of revenue raisers and cuts. The move should strengthen the Republicans’ negotiating prowess while facing the White House during this standoff with extremely high stakes.
Republicans Mulling Over Their Final Stance On The Debt Ceiling
The Republicans are aiming to get the floor voting on a bill as early as May. They would also like to see the bill pass just as soon since the chamber is quite narrowly divided. In the end, the passage will signify to President Biden that all kinds of legislation involving a debt ceiling increase will have conditions attached.
The Republicans are yet to announce any official estimates regarding the revenue raisers and cut that they are looking for. However, according to a source, the aim is to raise $3 to $4Tn in savings in the next 10 years’ budget.
During the recess running for two weeks, top Republicans of the House have been discussing the matter with their general members. All of the “five families” of the GOP have been working on the development of the plan. The so-called families represent the conference’s various wings of ideology,
However, the GOP is yet to unify on the yet-to-emerge plan. One source said that a couple more conservative Republicans want more measures. This includes tougher provisions for border security as well as repealing tax credits for green energy. Meanwhile, more moderate GOP members have been concerned with proposed Medicaid changes. However, lawmakers of the GOP have termed the discussion to be productive and expect internal talks to intensify upon the return of the lawmakers during this week.
