House Speaker Kevin McCarthy is proposing a bipartisan commission to outline future budget cuts in hopes of mollifying hardline conservatives opposed to his debt limit deal.
Mr. McCarthy, California Republican, said the commission would be formed after the deal passes Congress. It would include individuals nominated by himself and House Minority Leader Hakeem Jeffries, New York Democrat.
The announcement comes as hardline members of the House Freedom Caucus are in revolt over the bipartisan debt limit Mr. McCarthy struck with President Biden. Domestic spending would be flat for the upcoming fiscal year. Defense spending is set to grow by more than $26 billion. After this year, the growth of federal spending would be capped at 1% through 2025.Mr. McCarthy and Mr. Biden have further agreed to streamline the federal permitting process for new energy projects. The deal includes a pay-as-you-go provision requiring Mr. Biden to offset any rules or regulations that increase federal spending.
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