Republicans and Democrats have been sent copies of talking points on the “agreement in principle” reached between Joe Biden and Speaker of the House Kevin McCarthy (R-CA) on the debt ceiling. NBC News’ Sahil Kapur posted copies of the respective party talking points to Twitter. The new deal, which was outlined in the Oval Office on May 16, 2023, is a “compromise,” according to Biden. While Kenny Buck (R-CO) was “appalled by the debt ceiling surrender,” Mike Lawler (R-NY) applauded the deal as a “major step forward for our country,” and Ralph Norman (R-SC) called it “insanity.” Nonetheless, McCarthy said that the deal has “historic reductions in spending, consequential reforms that will lift people out of poverty into the workforce, [and] rein in government overreach” and there will be “no new taxes, no new government programs.” The text of the bill has not yet been written, but McCarthy is adhering to the 72-hour rule. A vote is scheduled for Thursday with members being asked to return by Tuesday. The White House talking points state the deal is a “budget agreement,” features a two-year spending deal and two years of the debt limit being raised, with no budget caps post-2025, no changes to Medicaid, student loans or IRAct, and an affirmation of a victory over the House Freedom Caucus.
In this toxic political climate, it is great to see the government work together to come up with a solution that benefits all Americans. At the same time, however, we understand that there are some members of Congress who believe that this deal is not in the best interest of the American people. The fact is, though, that this deal has historic spending reductions and contains absolutely no new government programs or new taxes. These talks have resulted in a deal that is fair for everyone.
Furthermore, it is important to note that this deal is a budget agreement that establishes a two-year spending program, and raises the debt limit for the same period, with no budget caps beyond 2025. This means fiscal responsibility and stability can be relied on for the foreseeable future. What’s more, the deal does not make any changes to Medicaid, student loans, or IRAct.
We are proud that notable members of Congress have voiced their support for this deal, restoring hope that compromise is possible in Washington. For example, Lawler praised the deal and said that he would be voting in favour of it, noting that while it contains aspects that he is not entirely happy with, he recognises that it represents a compromise and a major step forward for our country. We couldn’t agree more.
America needs this deal to help eradicate poverty, to help restore the economy, and to provide relief from the COVID-19 pandemic. Republicans in Congress should do the right thing and vote in favour of it.
