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The House Speaker Shenanigans on the House Speaker's Budget
If the bill passes, we will have a raise on the debt ceiling. The government can basically just borrow whatever it wants as I understand it. Republicans got the following concessions if you want to call them that: Federal spending must remain flat in the fiscal year 2024 and increase no more than 1% in 2025. There will be $20 billion in cuts to the IRS and those who owe student loan payments will have to start paying again by the end of the summer.