GOP’s House Freedom Caucus warns about Debt Ceiling Agreement.

Some members of the House Freedom Caucus are not satisfied with the proposed deal to raise the debt ceiling for two years ahead of a possible federal government default. Negotiators are rushing to finalize the bill’s text, with the House set to vote on the legislation on Wednesday. The Senate will then have time to consider it before June 5, the date when Treasury Secretary Janet Yellen has said the United States could default on its debt obligations if lawmakers did not act in time.

“A $4 trillion debt ceiling increase? With virtually none of the key fiscally responsible policies passed in the Limit, Save, Grow Act kept intact? Hard pass. Hold the line.”

Other members of the caucus, including Rep. Ken Buck (R-Texas), Rep. Ralph Norman (R-S.C.), and Rep. Chip Roy (R-Texas), have also expressed their concerns on Twitter. They believe that the proposed deal does not cut future deficits enough and includes “crony giveaways to elite leftists for grid-destroying unreliable energy.”

The agreement would keep non-defense spending roughly flat in the 2024 fiscal year and increase it by 1 percent the following year. It would also provide for a two-year debt-limit increase, past the next presidential election in 2024. However, the final details of the proposal have not yet been released to the public.

Defending the Deal

Despite the criticism, House Speaker Kevin McCarthy defended his “agreement on principle” debt ceiling deal with President Joe Biden. He acknowledged that some Republicans may not have gotten everything they wanted in the legislation, but said that Democrats received little in concessions.

“Maybe it doesn’t do everything for everyone, but this is a step in the right direction that no one thought that we would be able to today.”

McCarthy also suggested that the majority of his Republican conference would back the tentative deal with the Biden administration, which would raise the debt ceiling for two years.

Concerns from Both Sides

While some conservatives are worried that the compromise does not cut future deficits enough, Democrats have expressed concerns about proposed changes to work requirements in programs such as food stamps.

• Some members of the House Freedom Caucus are not satisfied with the proposed deal to raise the debt ceiling for two years ahead of a possible federal government default.
• The agreement would keep non-defense spending roughly flat in the 2024 fiscal year and increase it by 1 percent the following year.
• House Speaker Kevin McCarthy defended his “agreement on principle” debt ceiling deal with President Joe Biden.
• While some conservatives are worried that the compromise does not cut future deficits enough, Democrats have expressed concerns about proposed changes to work requirements in programs such as food stamps.