Debt ceiling deal gets thumbs up from business groups, derision from some on the political right.


WASHINGTON – As details emerge about the debt ceiling deal reached by President Joe Biden and House Speaker Kevin McCarthy, the reviews are starting to come in.

Some lawmakers have previously criticized the deal as not doing enough to address the nation’s debt, while others have criticized it as too harsh and would hurt more low-income Americans.

The bill needs the support of a majority of lawmakers from both parties to clear the closely divided House and gain the 60 votes necessary to pass in the Senate.

The final word on the deal is expected on Sunday. Many lawmakers say they have withheld judgment until they see the final details.

Check out how the deal is going so far:

Early concerns

Some of the early objections came from the most conservative members of Congress, particularly members of the powerful House Freedom Caucus at odds with GOP leadership.

“I think it’s an accident!” Matt Rosendale, R-Mont., tweeted.

“Fake conservatives agree to fake spending cuts,” tweeted Sen. Rand Paul, R-Ky.

“This ‘deal’ is madness,” tweeted Rep. Ralph Norman, RS.C. “The 4T increase in the debt ceiling is not what we agreed to without any reduction. We will not vote to bankrupt our country. The American people deserve better.

GOP leaders knew they would lose the support of some members in any deal with the Democratic-led White House and Senate. The question is always whether the deal will garner enough democratic support to offset those rejections.

Democrats weigh

As much as some Democrats dislike spending on non-defense programs next year and extending work requirements to more food stamp recipients, initial reactions are under consideration as they wait for more details.

Rep. Annie Custer, DNH, and chairwoman of the nearly 100-member center-left group known as the New Dems, said she was confident White House negotiators had “offered a viable, bipartisan solution” to stop it. crisis”

The most likely opposition will come from the more liberal members of the caucus. Rep. Pramila Jayapal, D-Wash., has been vocal against additional work requirements for some food and cash assistance recipients. Sunday on CNN, she called it a “horrific policy” on the “State of the Union.”

But Biden said she is waiting for legislative text to determine the level of work requirement exemptions he could win for veterans, the homeless and those coming out of foster care.

“And what the numbers will look like at the end of the day, I’m not sure. However, it is a bad policy. When the President called me last week on Wednesday, I told him that this is telling the poor and needy people that we don’t trust them.

Asked whether Democrats in the White House and the leading progressive caucus should be worried about supporting the bill, Jayapal said, “Yes, they should be.”

Business team support

With the country about a week away from a potential default risk that could destabilize the global economy, major business groups have been calling on Washington to quickly increase the debt ceiling.

The Business Roundtable, a group of more than 200 CEOs, called on Congress to pass the bill as soon as possible.

“In addition to raising the debt ceiling, this agreement takes steps to put the US on a more sustainable fiscal path. The group’s chief executive, Joshua Bolton, said the deal was a down payment to help make improvements and clear the way for new energy infrastructure projects.

The U.S. Chamber of Commerce urged a yes vote and said the vote will be included when the group rates or “scores” members of Congress based on how they vote on trade priorities.

With interest rates rising and financial markets booming, economists were clear that the economy would take care of even a short-term breach of paying the country’s bills in full.

“The gravity of this moment cannot be overstated,” said Susan Clark, president and CEO of the business group.

Watchdog groups approved

Some advocacy groups have warned about Congress’ tendency to reflect on policy priorities without paying full dividends. Their concerns generally went unheeded. But some see the deal as a step in the right direction.

The Committee on a Responsible Federal Budget announced that the bill would be the first major deficit reduction budget deal in twelve years.

“The process has been stressful, dangerous and ugly, but in the end, we have a plan to save and lift the debt ceiling, and that’s what’s needed,” said Maya McGuinness, the group’s president.


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