House Moves to Raise Debt Ceiling but Aims to Slash $4.5 Trillion in Spending, Targets IRS

The House of Representatives passed a bill late Wednesday afternoon that would raise the nation's debt ceiling. It would also address excessive spending by the government. President Biden has already promised to veto the plan. But the move does set the stage for a showdown, pushing Senate Democrats and Biden to sit down and negotiate with Republicans. 

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