Debt Limit Deal Would Go Through 2024 Election

The White House and House Republicans are discussing a debt-limit deal that would lift the government’s borrowing cap through 2024 while putting in place a mechanism to incentivize Congress to pass all 12 annual spending bills,” Punchbowl News reports.

“The exact spending levels, Covid relief rescissions, work requirements and permitting reform are all still open. Negotiators are discussing a mechanism that would allow Congress to pass appropriations bills at the agreed-to spending caps. If they fail to do so, a CR would snap spending to the agreed-upon caps.”