The House of Representatives has narrowly approved a Republican plan to raise the debt ceiling in a legislative victory for Speaker of the House Kevin McCarthy that will do little to break the stalemate with the White House.
Amid fears the stand-off between Republicans and Democrats will plunge the US government into default as soon as June, the House voted 217-215 on Wednesday evening to approve a bill that would raise the debt ceiling by $1.5tn and punt the risk until next year.
But the Limit, Save, Grow Act also included a laundry list of Republican policy priorities, including rolling back initiatives from Joe Biden’s administration, such as the cancellation of student loan debt.
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