Debt Vote Today: Rules Committee Sends McCarthy's Deal to the House Floor

Matt Vespa / Townhall Tipsheet 

House Speaker Kevin McCarthy falls short of his deal to increase the debt ceiling for the next two years. It’s a $4 trillion increase but comes with little to no guardrails; it could be unlimited. There’s no cap, and the spending cuts, while touted as an accomplishment by Rep. Thomas Massie (R-KY) of all people, are trivial at best. Regardless, his support guaranteed that the bill would pass the House Rules Committee, which it did last night, and now we expect the vote sometime this evening. Speaker McCarthy faces internal divisions, with the usual suspects on our side of the aisle forming the opposition. It’s not unwarranted. 

There are bad portions of this legislation, something you can’t gamble on with a meager five-seat majority, but we’re at a crisis point here. Treasury Secretary Janet Yellen gave a June 5 date for the default deadline. It was June 1, but no one knew the actual date. I feel like Yellen extended the deadline like a college professor would for a term paper (via NBC News): Read more here.