Dem
51
GOP
49
We are somewhat leery of writing up each day's budget-related maneuvering by Speaker Kevin McCarthy (R-CA), because there is every chance that today's chess move becomes tomorrow's irrelevancy. That said, he's entered into territory where we think we have to note what's going on. To wit, he's got an actual draft bill that he's pieced together.
The bill is called the Limit, Save, Grow Act of 2023, which means it is tantalizingly close to being the LSD Act of 2003. Too bad, because that would have been groovy, man. Needless to say, a bill like this is only vaporware until it comes up for a vote and passes. McCarthy insists he has the votes, and maybe he does, although it's 230 pages and nobody has had time to read the whole thing yet.
Assuming it does pass the House, it won't even come up in the Senate. The bill would basically kill most of the infrastructure bill from 2022, and the Democrats are not interested in undoing one of their signature accomplishments just 'cause House Republicans have decided that the debt limit entitles them to run the country. And the McCarthy bill really isn't a serious attempt at finding some sort of middle ground; it's full of talking points and editorializing. For example, one section is entitled "PROHIBIT UNFAIR STUDENT LOAN GIVEAWAYS" while another is headlined "REPEAL MARKET DISTORTING GREEN TAX CREDITS." Oh, and the "carrot" that McCarthy & Co. are offering, in exchange for the Democrats undoing the party's entire legislative program, is increasing the debt ceiling by $1.5 trillion or until March 2024; whichever deadline is hit first. So, the blue team would be buying, at best, a little less than a year, and then they would be in yet another hostage situation.
Joe Biden has promised to negotiate once there's an actual bill that can pass the House, and presumably he'll be as good as his word, though the negotiations might be short. We already know what Republicans' spin will be, because it's right there in the bill. Undoubtedly, Democratic operatives are hard at work on the spin from that side. Our guess: "The Republicans are so desperate to cut taxes on rich people, they are willing to reduce the amount of food aid given to needy women and children." The upshot here is that we may be about to enter a new phase in this game of debt-ceiling chicken, but we are still far from the finish line. (Z)