.Sen_JoeManchin is reiterating his public call for POTUS to negotiate with SpeakerMcCarthy on raising the debt limit as the risk of default nears.
McCarthy was able to hold enough of the House Republican Conference together to pass his debt ceiling budget proposal, which is meant to serve as an opening salvo in negotiations with the White House, on Wednesday. Biden, backed up by Senate Democrats, has stood firm in his refusal to negotiate over the debt limit.
"Only the President can prevent this from becoming a full-blown domestic crisis," the statement read."For the sake of our nation that we all serve, I urge the President to put politics and partisanship aside, come to the table and negotiate a real compromise that saves America from this impending economic catastrophe."
McCarthy's legislation pairs nearly $4.8 trillion in deficit reduction measures with a debt limit increase into the next year. The bill would return government agency funding to fiscal 2022 levels and cap annual increases to about 1% annually, except for the Pentagon. It would also roll back parts of Biden’s expansive health, climate, and tax law, expand mining and fossil fuel production, and impose work requirements on social programs.
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