Speaker Mike Johnson aims to tie a 2025 debt-limit bill to trillions of dollars in spending cuts, but Democrats say they’ll use the upcoming debt deadline as leverage to slow down the Republican tax agenda.
House Republican leaders told lawmakers they plan to raise the debt limit by $1.5 trillion and cut $2.5 trillion in spending in a filibuster-proof bill passed through the budget reconciliation process in 2025, Rep. Tom Tiffany (R-Wis.) said.
GOP leaders outlined the latest proposal after the House on Thursday rejected a debt-limit suspension attached to a continuing resolution, a combination pushed by President-elect Donald Trump ...