According to Punchbowl News:
Republican leadership has proposed a plan addressing the debt limit.The proposal includes raising the debt limit by $1.5 trillion in the first reconciliation package.It also promises to cut $2.5 trillion in net mandatory spending through the reconciliation process.
Statements from Key Figures:
House Majority Leader Steve Scalise: if not today, they will act tomorrow
House Speaker Mike Johnson:Johnson has reportedly discussed a new funding plan with the President electronically, though details remain unclear.
The White House’s Response:
The White House has urged Republicans to adhere to the existing bipartisan deal to keep the government open.Officials stress that there is still time to avoid a government shutdown.
This article was written by Greg Michalowski at www.forexlive.com.
