Debt limit deal clears House panel, setting up floor debate

The House Rules Committee on Tuesday evening advanced a bipartisan bill to raise the debt limit and avert a national default, paving the way for a floor debate in the lower chamber on Wednesday.

The panel advanced the legislation by a 7 to 6 vote, with several Republicans objecting to its advancement. On Wednesday, lawmakers will debate the proposal on the floor. Conservative lawmakers such as Texas Rep. Chip Roy and South Carolina Rep. Ralph Norman had sought to block its advancement, but enough Democrats and Republicans on the committee overruled them.

That move came despite reservations from Republican lawmakers that the compromise fails to adequately address their spending concerns. The legislation suspends the debt ceiling through the remainder of President Joe Biden's term and caps discretionary spending growth.

House Speaker Kevin McCarthy faced intense pressure from House conservative who had challenged his leadership earlier this year to fight for budget concessions in exchange for raising the debt limit. At least one of his detractors, North Carolina Republican Rep. Dan Bishop, has supported his ouster over the plan.

Treasury Secretary Janet Yellen has warned that lawmakers must pass a plan to raise the debt limit by June 5 or face a national default. Should the floor vote fail on Wednesday, it would leave lawmakers with little time to create a new proposal.

Ben Whedon is an editor and reporter for Just the News. Follow him on Twitter.