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Monday, June 24, 2024

Did Joe Biden or Kevin McCarthy cave in debt ceiling negotiations? Congress sounds off

WASHINGTON, D.C. – Members of Congress were split on whether President Biden or House Speaker Kevin McCarthy caved during the debt ceiling negotiations.

“Well some of my colleagues are saying it’s a cave for Kevin McCarthy but in actuality, it is a cave for Joe Biden,” Republican Rep. Marjorie Taylor Greene told Fox News. “Joe Biden’s losing because his polling numbers are so bad. He had to cave.” 

Joe Biden and Kevin McCarthy

President Joe Biden and House Speaker Kevin McCarthy’s compromise legislation on the debt ceiling passed the House of Representatives Wednesday night. (Getty Images)

But Rep. Jared Moskowitz thinks both sides made sacrifices.

“The fact that the left and the right both hate it tells me it’s probably a pretty good bill,” the Democrat said. 

Rep. Ben Cline echoed his fellow Republican’s sentiments.

“The [original] bill was a strong conservative bill,” he told Fox News. “It is not a strong conservative bill anymore.”

Rep. Byron Donalds stands outside of the U.S. Capitol ahead of the debt ceiling vote

Rep. Byron Donalds voted against McCarthy and Biden’s agreement. He complained that it kept “Democrat priorities in place.” (Fox News Digital/ Jon Michael Raasch)

Both Cline and Donalds voted against the bill. Still, some Republicans saw the legislation as a victory for the GOP. 

“We’re going to confront the fact that this federal government doesn’t often respect its taxpayers,” the Republican continued. “We’re going to be sure that America makes good on its debts.”

Republican Rep. Marcus Molinaro stands outside near the US Capitol

Republican Rep. Marcus Molinaro said the Fiscal Responsibility Act of 2023 included some GOP objectives.  (Jon Michael Raasch/Fox News Digital)

The bill cuts billions from the IRS expansion fund, claws back some unused COVID-19 pandemic funds, cuts non-defense spending close to the 2022 fiscal levels and suspends the debt limit with no cap until 2025. McCarthy touted the bill as “the largest savings in American history” yesterday. 

Some Democrats said they were happy to come to a compromise.

“They negotiated and they reached a reasonable outcome for all parties involved, which is what you’re supposed to do,” he continued. 

To watch the lawmakers’ full interviews, click here

Ramiro Vargas contributed to the accompanying video and Elizabeth Elkind contributed to this report.

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