House Rules Committee approves debt-limit agreement

The House Rules Committee on Tuesday advanced the agreement President Joe Biden and House Speaker Kevin McCarthy reached over the weekend. The Committee’s approval sends the bill to the House floor for a vote on Wednesday. Some members on both sides of the aisle oppose the bill. Biden and McCarthy are gathering supporters among more moderate members of both parties to ensure the legislation’s passage.

What does this agreement entail? It holds non-defense government spending flat for 2024 and allows it to increase by one percent in 2025. Spending related to defense and veterans would increase slightly. The bill also raises the debt ceiling through the end of 2024.

Dig deeper: Read Leo Briceno’s report in The Stew about how House Democrats had been plotting a long shot of a debt-ceiling fix before the Biden-McCarthy agreement.