The debt ceiling. On Wednesday, House Republicans narrowly passed a bill to raise the debt ceiling to $31.4 trillion while cutting spending and rolling back key parts of President Biden's agenda. The bill, dubbed the “Limit, Save, Grow Act of 2023,” passed by a 217-215 vote and has no chance of becoming law in the Democratically-controlled Senate. Instead, it is designed to force Biden to negotiate over spending reductions or face a potential default on the nation's debt, as he wants to raise the debt ceiling with no conditions attached.
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