WASHINGTON (Pakistan Point News / Sputnik - 01st June, 2023) Senate Republican leader Mitch McConnell said on Wednesday that he expects the House of Representatives to pass the debt limit bill tonight and send it to the Senate for consideration on Thursday.
"Now the drama is in the House. We anticipate the bill passing and coming over to us as soon as tomorrow," McConnell said during a press briefing on Capitol Hill. "We had a healthy discussion at (Senate Republican) lunch about the pros and cons."
McConnell further said House Speaker Kevin McCarthy should be praised for capturing a number of Republican priorities in the debt limit deal plan negotiated with the White House.
Over the weekend, McCarthy and President Joe Biden struck a deal to raise the US debt ceiling for two years in exchange for limited fiscal reforms, such as resuming student loan repayment and slashing some Internal Revenue Service funding.
The deal received backlash from some Republican members of Congress, including the House Freedom Caucus. The lawmakers expressed concerns about the amount of spending authorized by the legislation in comparison to the House-passed Limit, Save, Grow Act.
The United is expected to default on its financial obligations starting June 5 if an agreement to raise the debt ceiling is not finalized, according to the Treasury Department.
