Debt Limit Pressure Builds on Biden After House Passes Plan
- McCarthy overcomes internal dissent to pass his first big test
- Changes to ethanol, work requirements gave speaker the votes
This article is for subscribers only.
Pressure is building on President Joe Biden to respond after House Republicans unified on a set of demands to avert a catastrophic US debt default in the coming weeks.
The deadline for a deal is about to come into sharper focus, clarifying the ramifications for the financial markets even as the two parties remain deeply polarized over whether to require spending cuts in any agreement to raise the US debt limit.