Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Nicolas Maduro: The Palestinian cause is the most sacred cause for humanity, and we propose sending teams of builders, farmers, and doctors to Gaza to help the people
Al Mayadeen's correspondent in Lebanon: IOF infiltrate Khallet Wardeh towards the municipality in the town of Aita al-Shaab, south of Lebanon.
Leaders of the United States, Egypt, Qatar, and Turkey sign a ceasefire agreement in Gaza.
Trump arrives in Sharm el-Sheikh
Israeli PM's office: PM informed Trump he would not attend Sharm el-Sheikh Summit on account of Jewish holidays.
Israeli media: Netanyahu makes last-minute decision to cancel trip to Sharm el-Sheikh.
Al Mayadeen's correspondent: Large crowds gather in Khan Younis to welcome the liberated Palestinian detainees, waving flags of Hamas and Islamic Jihad in celebration
Buses of released prisoners arrive in Ramallah
Israeli media: Netanyahu gifts Trump a "Golden Dove".
Israeli media: Netanyahu will take part in Sharm el-Sheikh Summit.

Republicans pass bill to increase debt limit, curb government spending

  • By Al Mayadeen English
  • Source: Agencies
  • 27 Apr 2023 11:59
3 Min Read

McCarthy's proposal included raising the US debt limit by $1.5 trillion to avert a default in the world's biggest economy.

  • x
  • US House Republican Leader Kevin McCarthy in the House Chamber at the U.S. Capitol Building on January 07, 2023 in Washington, DC, US (AFP)
    US House Republican Leader Kevin McCarthy in the House Chamber at the US Capitol Building on January 07, 2023 in Washington, DC, US. (AFP)

A Republican bill to increase the debt limit and cut down on government spending was passed on Wednesday after a narrow 217-215 vote in the US House of Representatives - a major win for Republican House Speaker Kevin McCarthy.

McCarthy's proposal included raising the US debt limit by $1.5 trillion to avert a default of the world's biggest economy.

McCarthy took to Twitter to break the news: "House Republicans just passed the only plan in Washington that 1. Lifts the debt ceiling 2. Stops wasteful spending and inflation 3. Puts America back on track. Now Democrats should do their job," 

🚨 BREAKING 🚨 House Republicans just passed the only plan in Washington that
1. Lifts the debt ceiling
2. Stops wasteful spending and inflation
3. Puts America back on track

Now Democrats should do their job.

Tune in for my press conference soon https://t.co/vmn31INPH5

— Kevin McCarthy (@SpeakerMcCarthy) April 26, 2023

Read next: US Republican debt ceiling plan would slow growth: Moody's

Treasury Secretary Janet Yellen has been urging Congress to either suspend or raise the debt limit for the same reason as McCarthy, adding that her agency has started discussing "extraordinary measures" to avoid a default, which the US has never done since the debt ceiling has been raised 22 times between the years 1997 and 2022.​​​​​​​

Related News

Australia open to sending troops to Middle East post-ceasefire

Senior US prosecutor removed as Lindsey Halligan tightens grip on EDVA

Yellen warned on Tuesday that a US default on its debt would set off an "economic and financial catastrophe," stressing that Congress must not wait until the last minute to make a decision on the matter.

In a statement, White House Press Secretary Karine Jean-Pierre said that the proposed bill would cut "veterans’ healthcare, education, Meals on Wheels and public safety, takes away healthcare from millions of Americans and sends manufacturing jobs overseas.”

Jean-Pierre asserted that "President Biden will never force middle-class and working families to bear the burden of tax cuts for the wealthiest, as this bill does. The President has made clear this bill has no chance of becoming law," 

She urged: "Congressional Republicans must act immediately and without conditions to avoid default and ensure that the full faith and credit of the United States is not put at risk."

In January, after the US maxed out its borrowing limit at $31.46 trillion, the US Treasury announced launching "extraordinary measures" to prevent defaulting on debt. Yellen then decided that the Treasury would temporarily suspend payments that aren't urgent and divert the money for more pressing needs i.e. services needed to keep the government operating. 

The Congressional Budget Office (CBO) warned in February that the government could exhaust its funds by July - the final date to decide on the matter - leading to a default on American debt unless Congress raised the debt ceiling.

Read more: Republicans slam Biden with 'fact check' website

  • United States
  • Republican Party
  • debt limit
  • US
  • Kevin McCarthy
  • Janet Yellen
  • government spending

Most Read

Palestinian journalist Saleh al-Jaafarawi in an undated image in Gaza, occupied Palestine (Social media)

Gaza Palestinian journalist Saleh al-Jafarawi killed by collaborators

  • Politics
  • 12 Oct 2025
Taylor Swift: The Life of a Showgirl

The Life of a No-Girl: The one verse Taylor Swift refuses to sing

  • Arts and Culture
  • 8 Oct 2025
Ceasefire in Gaza takes effect amid conflicting signals and bombings

Gaza ceasefire takes effect; 'Israel' resumes bombing, timing disputed

  • Politics
  • 9 Oct 2025
Illustration of fists breaking shackles, representing the liberation of Palestinian detainees from Israeli prisons. (Illustrated by: AL Mayadeen English/Batoul Chamas)

4 prominent Palestinian detainees to be freed: Who are they?

  • Palestine
  • 13 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Freed Palestinian prisoners carry rifles as they arrive in the Gaza Strip following their release from Israeli jails, outside Nasser Hospital in Khan Younis, southern Gaza Strip, Monday, October 13, 2025 (AP)
Politics

Palestinian resistance remains steadfast, victorious Larijani says

Lebanese Army Commander General Rodolphe Laffan inspecting the command structure of the 10th Infantry Brigade in Kfarskhna-Zgharta on October 13, 2025. (Lebanonese Army)
Politics

Lebanese Army chief: Israeli aggression threatens Lebanon's security

Hamas fighters escort buses carrying freed Palestinian prisoners arriving in the Gaza Strip after their release from Israeli jails, in Khan Younis, southern Gaza Strip, Monday, October 13, 2025 (AP)
Politics

154 Palestinian prisoners exiled to Egypt under exchange deal

Israeli Prime Minister Benjamin Netanyahu arrives before US President Donald Trump addresses the Knesset, Israel's parliament, Monday, October 13, 2025 in Occupied Al-Quds. (Kenny Holston/The New York Times via AP, Pool)
Politics

Netanyahu withdraws from Sharm el-Sheikh summit amid regional pushback

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS