Biden pans McCarthy’s debt plan as ‘huge cuts’ to Americans

By LISA MASCARO, KEVIN FREKING and JOSH BOAK
Associated Press

WASHINGTON (AP) — House Speaker Kevin McCarthy is working furiously to build support for a Republican proposal that would raise the nation’s debt limit. President Joe Biden wants that legal borrowing limit raised, too, but he doesn’t want the other part of McCarthy’s demands — a limit on much future federal spending increases to 1% a year, among other changes. McCarthy is looking for negotiations with the White House, but Biden quickly batted down his bid as “huge cuts” to programs hitting million of Americans. The Republican leader’s proposal has almost no chance in the Democratic-controlled Senate. And he still has to unite fractured House GOP factions to pass the legislation in the chamber they control.