On Wednesday, April 26th, 2023, House Republicans passed their budget and debt limit bill along party lines. As noted last week, the legislation would raise the debt ceiling into next year in exchange for freezing spending at last year’s levels for a decade — a nearly 14 percent cut — as well as rolling back parts of Mr. Biden’s landmark health, climate and tax law, imposing work requirements on social programs, and expanding mining and fossil fuel production.

The Senate Budget Committee has announced a hearing on the bill, which Democrats have dubbed the “Default on America Act,” on Thursday, but it has no chance of passing through the Senate.