The House is expected to vote to increase the debt limit on Wednesday, but there is pushback on both sides of the aisle.
Bharat Ramamurti, White House National Economic Council deputy director, told Scripps News he expects the vote to raise the nation’s debt limit will have enough support in Congress.
Treasury Secretary Janet Yellen has estimated the U.S. will reach its debt limit on June 5. She and others have warned of dire consequences for the economy if the U.S. is unable to meet its obligations. A vote on the debt limit is expected in the House on Wednesday. The Senate is expected to vote on the measure in the coming days.
The bill reduces the number of people eligible for a number of government programs, including Temporary Assistance for Needy Assistance and the Supplemental Nutrition Assistance Program.
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