Read the Republican Bill to Raise the US Debt Ceiling
The proposal would boost the limit by $1.5 trillion.
This article is for subscribers only.
US Speaker Kevin McCarthy proposed a bill that would raise the US debt limit and cut federal spending.
The plan would increase the debt ceiling by $1.5 trillion, enough to stave off a default for about a year. It would also cut discretionary spending by $130 billion and cap future increases at a 1% annual rate for the next decade.