House of Representatives Set to Vote on Bill to Cut Federal Spending and Raise Debt Ceiling Through 2024 Presidential Election

The House of Representatives is set to vote Wednesday night on a bill that would cut federal spending by more than $1 trillion and raise the debt ceiling through the 2024 presidential election. The bill is expected to pass with support from both Republicans and Democrats, although there is opposition from both sides of the political spectrum.

House Speaker Kevin McCarthy and House Minority Leader Hakeem Jeffries need both parties to pass the bill in order to lift the debt ceiling a few days before the U.S. is expected to run out of money to pay its bills. After a two-hour-plus party meeting in the U.S. Capitol, Rep. Elise Stefanik (R-N.Y.), the chair of the House Republican conference, said, “This is a win for the American people and future generations.”

The majority of the left wing of the Democratic Party is also likely to vote no, according to Congressional Progressive Caucus Chair Pramila Jayapal and Whip Greg Casar. They argue that the bill does not address the underlying issues of inequality and poverty, and that it does not provide enough relief for struggling Americans.

The bill is expected to pass, although it is unclear if it will have enough support to pass without amendments. If the bill passes, it will be the first time in history that the U.S. has avoided a government debt default. The vote is expected to take place Wednesday night.