Republicans unveil new debt ceiling bill that would force White House to propose its own plan to cut spending
Fox News
Republicans in the House and Senate are unveiling a new proposal that would force the White House to offer its own plan for spending cuts as the debt limit fight heats up/
He is introducing the Dollar-For-Dollar Deficit Reduction Act in coordination with Wyoming GOP Sen. John Barrasso, chair of the Senate Republican Conference. Barrasso is expected to introduce a similar bill in the Senate at a later date. Elizabeth Elkind is a politics reporter for Fox News Digital.
It comes more than a month after Treasury Secretary Janet Yellen warned the country had reached its $31.4 trillion debt ceiling – the maximum amount of cash the federal government can borrow to pay Social Security, Medicare and other obligations – and that her department was now forced into "extraordinary measures" to keep those cashflows up.
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