The House Republican Debt Limit Proposal, Explained

 

republican party

 

Updated January 24, 2013

 

If the legislation is enacted by the end of January, the debt limit increase on May 19 would be approximately $450 billion

By Steve Bell, Loren Adler, Shai Akabas and Brian Collins

Last week, at the House Republican retreat in Williamsburg, VA, members of the leadership team announced that they were considering a short-term increase in the debt limit that would allow Congress to address several other budget-related deadlines first.  These include the automatic across-the-board sequestration cuts set to take effect March 1, the March 27 expiration of the continuing resolution to finance the federal government for the current fiscal year, and the April 15 deadline for a congressional budget resolution for the next fiscal year…More



Categories: GOP News

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