Kevin McCarthy (R-CA) claimed confidently that he is “not at all” concerned about losing his position as Speaker of the House despite growing opposition among conservative lawmakers regarding the recent debt limit deal reached between him and Joe Biden.
On Sunday, Kevin McCarthy and Joe Biden reached a final agreement on the debt limit to avert a government default.
“Good news,” Biden announced. “The agreement prevents the worst possible crisis, a default, for the first time in our nation’s history,” he said. “Takes the threat of a catastrophic default off the table.”
“This is a good strong bill that a majority of Republicans will vote for. You’re going to have Republicans and Democrats be able to move this to the president,” McCarthy said, according to Reuters.
Here are some of the details of the Biden-McCarthy agreement, according to Rep. Chip Roy (R-TX):
- Debt ceiling set til 1/1/2025 – which means unknown debt increase – but $4 Trillion is a good estimate…
- Debt Ceiling “Deal” totally scraps the $131BB in cuts to return bureaucracy to pre-COVID levels in favor of what appears to be effectively flat spending (down or up a little) – at the bloated 2023 Omnibus spending level, jammed through in a rush in December
- Debt Ceiling “Deal” abandons work requirements for Medicaid
- Deal abandons our repeal of the so-called Inflation Reduction Act tax-credit crony giveaways – which Goldman Sachs says costs $1.2 Trillion.
- The deal abandons the inclusion of the very powerful anti-regulatory REINS Act (which we just passed through House Judiciary as well) in favor of a form of administrative pay-go which is relatively toothless and/or able to be waived.
- The deal abandons full repeal of Biden’s unlawful student loan bailouts – forcing only a re-start to a small number while leaving in place $400 billion+ in loan forgiveness and punting our constitutional duty to the Court.
- The deal keeps the full $80BB expansion of the IRS and the 87,000 employees it funds to target poor/minority 3-5x more – except for $1.9BB for this year.
- The deal does claw back $29BB remaining of the COVID unobligated funding which is used as part of the budget games.
- Does nothing for the border. Does nothing regarding pistol braces. Does nothing regarding Presidential overreach. And in many ways kills our leverage to get them through the appropriations process.
- Finally, again… this deal raises our debt ceiling by an unlimited amount that is likely close to or over $4 Trillion.
However, multiple Republicans took to Twitter to lambaste the agreement and threaten to vote “no” on it.
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.
— Rep. Andrew Clyde (@Rep_Clyde) May 27, 2023
But hey, we won’t have to talk about it again until after the 2024 elections so they think that’s good!
I think it’s a disaster!
— Matt Rosendale (@RepRosendale) May 28, 2023
Kevin says we can fight again NEXT year to rescind another year of the IRS $80 billion … but he simultaneously prevented that “fight” by agreeing to suspend the debt ceiling for TWO years.
So there will be 85,260 more IRS agents rather than 87,000 to eat you alive. Big win. https://t.co/CHRRIxFI4j
— Rep. Dan Bishop (@RepDanBishop) May 28, 2023
This “deal” is insanity.
A $4T debt ceiling increase with virtually no cuts is not what we agreed to.
Not gonna vote to bankrupt our country. The American people deserve better.
— Rep. Ralph Norman (@RepRalphNorman) May 28, 2023
Eliminating $1.8 billion for Biden’s new army of IRS agents is great until you realize that Democrats appropriated $80 billion for them.
As I’ve said since the draft agreement came out, this is NOT a win for the American people!
— Lauren Boebert (@laurenboebert) May 28, 2023
During a press conference Sunday, McCarthy dismissed the notion that he could face a vote to remove him as Speaker and downplayed any potential backlash within his party.
When asked by reporters in the Capitol, McCarthy responded, “Not at all, not at all,” emphasizing that he had no worries about losing his leadership position.
McCarthy also claimed that the majority of his colleagues were “overwhelmingly excited” about the deal during their conference call.
“I’m not sure who you’re talking to because we did a conference call with our conference and over 95 percent were overwhelmingly excited about what they see,” McCarthy said.
“Look, in every single negotiation when it comes to debt ceiling and others you get both sides of the party voting to pass the bills and I expect the same thing to happen,” he added.
Rep. Carlos Gimenez (R-FL, Miami-Dade), Rep. Nick Langworthy (R-NY), Rep. Anthony D’Esposito (R-NY), Rep. Chuck Edwards (R-NC), and Rep. Mike Lawler (R-(NY) are just some of the congressmen who have been outspoken in their support of the deal.
A vote in the House is expected on Wednesday, according to AP.
If the claim made by McCarthy that 95% of the House Republicans support the deal is true, then America is doomed.
Below is the full 99-page legislative text between Biden and McCarthy’s agreement to curb spending: