House Republicans Propose Raising Debt Ceiling By $4T, Senate GOP Wants $5T To Pay For Massive Tax Cuts

House Republicans are advancing a bill that would raise the nation’s debt ceiling by $4 trillion to allow for President Donald Trump’s tax agenda.

The proposal is included in the legislative text revealed by the House Ways and Means Committee. They are using a blueprint adopted by congressional Republicans last month to enact Trump’s sweeping tax plan.

Republican Congressmen attached the debt limit proposal to a broader bill that would enact most of Trump’s agenda.

While it effectively avoids any Democratic demands for amendments they’d need to gain their votes, combining the debt limit action with the larger bill creates further complications.

It’s also not clear among GOP members in Congress by how much to raise the debt ceiling. While the House’s plans describe raising the debt limit by $4 trillion, the Senate instead proposes a $5 trillion increase.

Both intend to align with the budget framework Republicans adopted last month, but the heightened cost of a $5 trillion increase in the debt ceiling raises concerns among Senate Republicans.

Sen. Rand Paul (R-Kentucky) said in a statement, “I think $5 trillion is not conservative. If we give them $5 trillion, they don’t care what we think for the next two years because they got all the money they want in the world.”

Other internal disagreements about the bill’s contents have already created headaches for Republicans. Reforms resulting from slashing Medicaid expenses are one of many issues that House Republicans are working on.

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Article by Amanda Morley