House are proposing to lift the debt ceiling by $1.5 trillion or extend borrowing until March 31, 2024 and Speaker plans to hold a vote on the package by as soon as next week. McCarthy said on the House floor the plan, led by Budget Chair Jodey Arrington, R-Texas, will save $4.5 trillion by capping spending at fiscal year 2022 levels in 2024, then limit growth to 1 percent per year. President Biden almost immediately knocked the 'Limit Save Grow' act after McCarthy announced it in a floor speech.
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