House Speaker Kevin McCarthy pledged to reduce federal spending to 2022 levels during his speaker election|U.S. Department of Agriculture|Public domain
Discussions about raising the debt ceiling and budget cuts are definitely on House Speaker Kevin McCarthy’s list for his Wednesday meeting with President Joe Biden.
The Republican Senator is keen on implementing the promises he made to the GOP during his speaker election. Among them is the pledge to reduce federal spending to 2022 levels, which would mean an 8% cut in the 2023 budget.
But the Biden administration has indicated multiple times that it will not encourage budget cuts. Still, McCarthy remains hopeful that he and Biden can reach a middle ground. He also mentioned spending cuts on medicare and social security are off the table.