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GOP’s Debt-Ceiling Proposal: Where Do Republicans Want to Cut Spending?
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The House is set to vote this week on a Republican bill that would raise the nation’s $31.4 trillion borrowing limit in exchange for deep cuts to government spending.
While the bill has no chance of passing the Democratic-controlled Senate, it marks the opening bid from the GOP in what are expected to be down-to-the-wire talks to raise the debt limit, ahead of a summer deadline. If no deal is reached, the U.S. could default on debt payments and other obligations.
Read more on wsj.comAbout this in other media
Treasury Chief Janet Yellen Says U.S. Risks Default as Soon as June 1 Without Debt Ceiling Increase wsj.com /1 year ago
Here’s What Treasury, Fed Might Do in a Debt Ceiling Crisis wsj.com /1 year ago
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