Former House Speaker Newt Gingrich on Sunday applauded the debt limit deal forged by House Republicans and Speaker Kevin McCarthy (R-CA) with President Joe Biden.
Gingrich took to social media to set out his thoughts on what he hailed as a “dramatic victory.” He said:
The Debt limit deal is a dramatic victory for Speaker McCarthy and House Republicans. Before they passed their history changing bill no one would have believed it possible to cut spending, reestablish work requirements, reform permitting for energy and infrastructure and more
The Debt limit deal is a dramatic victory for Speaker McCarthy and House Republicans. Before they passed their history changing bill no one would have believed it possible to cut spending, reestablish work requirements, reform permitting for energy and infrastructure and more
— Newt Gingrich (@newtgingrich) May 28, 2023
As Breitbart News reported, McCarthy announced the deal on Saturday night.
The tentative agreement, which includes raising the debt ceiling through roughly the next two years in exchange for some of Republicans’ desired spending cuts and other concessions, comes after days of tense negotiations.
McCarthy said in a brief press conference while they still have to spend the evening ironing out details and that text of the bill will come Sunday, he said he believes the agreement is “worthy of the American people.”
Republicans are poised to deliver big, consequential change in Washington. Soon, we will vote for a responsible debt limit agreement that stops Democrats' reckless spending, claws back unspent COVID funds, blocks Biden's new tax schemes, & much, much more https://t.co/TQ7CblFsaM
— Kevin McCarthy (@SpeakerMcCarthy) May 28, 2023
“It has historic reductions in spending, consequential reforms that will lift people out of poverty into the workforce, rein in government overreach. There are no new taxes, no new government programs,” McCarthy outlined.
Gingrich had previously encouraged McCarthy to stay the course and said if the U.S. government defaulted on its debt, it would fall on Biden and end his 2024 reelection bid, as Breitbart News reported.
Negotiators are now racing to finalize the bill’s text.
McCarthy said the House will vote on the legislation on Wednesday, giving the Senate time to consider it before June 5, the date when Treasury Secretary Janet Yellen has said the United States could default on its debt obligations if lawmakers did not act in time, AP reports.
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