Florida restricts LGBTQ education - Debt ceiling proposal - Apple targets India

Source: USA Facts

1. Summary
   House Speaker Kevin McCarthy (R-CA) on Wednesday unveiled a proposal to raise the debt ceiling and avoid a national default, a scenario with severe economic repercussions. Raising the debt ceiling does not authorize new borrowing, and instead authorizes the Treasury to borrow money to pay for spending already authorized. McCarthy's bill would cap discretionary spending at $1.47 trillion, effectively freezing it at 2022 levels.
   
   The bill lists various spending cuts, including by repealing recently increased IRS funding and recently authorized clean energy tax credits. It would also cancel President Biden's student loan forgiveness plan. McCarthy has said he will not cut defense or Medicare spending.
   
   Democrats have insisted that the debt limit must be increased without policy conditions, and McCarthy's proposal is unlikely to pass the Democrat-held Senate. It also is unclear if McCarthy can gather enough GOP votes to pass the measure in the House. However, the bill largely serves as a pressure tactic to make Democrats compromise on spending.

   Highly-rated - last 48 hrs
   Debt limit bill in hand, McCarthy eyes vote next week.
   Roll Call (Center) • Factual Grade 76% • 7 min read
   

1. Different political viewpoint
   Kevin McCarthy, Joe Biden, and the deeply unserious debate over the debt ceiling.
   Reason (Moderate Right) • Factual Grade 76% • 5 min read

1. Selected long-read
   The US debt limit is a global outlier.
   Atlantic Council (Center) • Factual Grade 73% • 7 min read

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