Final vote on House GOP debt limit bill could take place as early as Wednesday evening

The floor vote on House Speaker Kevin McCarthy’s debt limit legislation could come as early as Wednesday but as of midday it was still unclear whether the leader of the GOP-controlled House had the votes.

Lawmakers are currently debating the legislation on the floor.

McCarthy told reporters earlier on Capitol Hill that the vote would take place in the evening but he didn't say if there are enough votes to pass it.

A congressional source told Just the News that House leadership will hold the floor vote once the GOP has the votes necessary for passage.

The House Rules Committee made several changes to the bill that were released early Wednesday. The changes followed negotiations between McCarthy, House Republican Whip Tom Emmer and a group of conservative GOP lawmakers.

The modifications include enforcing work requirements for recipients of federal benefits such as Supplemental Nutrition Assistance Program (SNAP) and Medicaid, according to the text of the amendment. 

The Limit, Save, Grow Act of 2023 would extend the nation's debt limit for one year by $1.5 trillion and limit domestic spending growth by 1% per year. It also eliminates many of the green energy tax credits in the Democrats' Inflation Reduction Act. The bill would also block President Biden's student debt forgiveness plan from implementation, which he announced through an executive order last year.

The White House formally announced on Tuesday that Biden would veto the legislation if it arrived at his desk.