United States: Debt deal voted down in House of Representatives

US President Joe Biden welcomed A “A significant step forward”. Elected members of the House of Representatives on Wednesday, May 31, overwhelmingly voted in favor of a text to lift the debt ceiling until 2025, removing the risk of a possible default by the United States. June 5.

The bill, which received 314 votes (165 Democrats and 149 Republicans) and 117 against (71 Republicans and 46 Democrats).

It must now be taken up by the Senate, where Democratic Majority Leader Chuck Schumer assured Wednesday that he will introduce it. “as soon as possible” therefore “We avoid payment defaults”.

“The Biggest Budget Cut in History”

On the other hand, the Republican Speaker of the House, Kevin McCarthy, assessed at the press conference that this vote “Put the American citizen first” Realizing this “That no previous mandate has succeeded so far” : Cut federal spending. “Today’s vote passes the largest budget cuts in American history”he argued.

The result of marathon negotiations and plucked with pincers over the extended Memorial Day weekend, the text should ensure that the nation’s coffers don’t run dry on Monday, June 5. It is precisely this scenario with potentially catastrophic consequences for the economy that Joe Biden and Kevin McCarthy concluded. “compromise” In the words of the president, who did not fully satisfy anyone.

Before the vote, Kevin McCarthy admitted that he would not get the full number of votes in his camp, and at the same time showed optimism. And for good reason, Democratic leaders, even as they’ve been forced to retouch the federal budget, are willing to provide what’s missing. “House Democrats will ensure a default-free country.” And that’s all”said their leader, Hakeem Jeffries. “We will not allow Republicans to cripple our economy and hurt Americans.”he added.

“No Republican should vote”

Many voices in both camps said they would not vote for the text. The main criticism among Republicans came from the Trumpist wing, which called for more spending cuts. The elected representative of Texas, Chip Roy, criticized A “Bad Deal”for which “No Republican should vote”. Some members of their group are even considering a motion of no confidence to force Kevin McCarthy to step down. A proposal may be submitted by one elected representative.

More moderate voices, such as South Carolina elected official Nancy Macy’s, were also absent. “This ‘deal’ seals a record level of federal spending during the pandemic and sets it as a baseline for future spending.”He criticized before the vote.

On the Democratic side, left-leaning elected officials such as Pramila Jayapal and Alexandria Ocasio-Cortez have refused to support the text. “imposed” According to them, Republicans.

The bill lifts the debt ceiling until 2025, after the presidential election in late 2024. Instead, certain expenditures will be capped to keep them stable, excluding military spending, in 2024 and will increase by 1%. Inflation in 2025.

The main point of contention is that the compromise includes changes to the eligibility criteria for some Social Security benefits: It raises the age from 49 to 54 before adults without children must work for food, but it eliminates the work requirement for veterans. and homeless.