From Washington: A Divided Government Reaches A Debt Limit Deal

The Fox News Rundown

FOX News Podcasts

News, Daily News, Politics

3.4 • 1.7K Ratings

🗓️ 3 June 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

In a bipartisan 63-36 vote, the Senate passed a debt limit package, bringing an end to the ongoing stalemate on negotiations. The compromised legislation contains concessions from both parties, suspending the debt limit into 2025 while also setting new caps on discretionary spending. The deal comes just days before the country was expected to default on its debt, which some experts say would've yielded catastrophic economic consequences. FOX Senior Congressional Correspondent Chad Pergram explains the contents of the bill, the threats to Speaker McCarthy's leadership, and what the bipartisan compromise means for the divided government. House members Veronica Escobar (D-TX) and Maria Salazar (R-FL) are spearheading a new bipartisan comprehensive immigration reform bill this year titled the Dignity Act, with the odds against them because despite many attempts, this kind of reform has fallen short over the past several decades. FOX News Correspondent Griff Jenkins weighs in on the probability that this bill could pass both the House and the Senate. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Saturday, June 3rd, 2023, I'm Jared Halpern. A debt limit deal is done in a divided government
0:11.7	has passed a crucial test. Don't default and Wall Street's okay and Treasury is, you know,
0:17.2	conducting auctions and everything else with T-bills. So that's important, yes, normalcy.
0:22.0	I'm Ryan Schmelz. After decades of trying, will this Congress be the one to get it done?
0:28.0	A bipartisan group of lawmakers are trying to pass a comprehensive immigration reform bill.
0:33.7	But with history not exactly on their side, will this time be different,
0:38.4	and as Congress have the willpower to get it done?
0:41.4	We only need political willingness. Period.
0:44.2	This is the Fox News rundown from Washington.
0:47.6	The modern day philosopher Larry David is quoted as saying,
1:01.2	a good compromise is when both parties are dissatisfied. A congressional debt limit deal was not the subject.
1:08.4	The sign felt co-creator was describing, but it does fit.
1:12.3	It wasn't an easy fight. I had people on both sides upset.
1:17.7	But I was focused on you and I will stay focused on you because I'm waking up tomorrow,
1:23.2	going after everything we didn't get here today.
1:25.9	House Speaker Kevin McCarthy celebrating a strong bipartisan vote for the debt limit suspension
1:30.4	agreement he broke with President Biden, ultimately winning support from two-thirds of House
1:35.9	Republicans and about the same ratio of House Democrats. The Senate gave final approval in another
1:42.1	bipartisan fashion, 63 to 36. Again, overcoming objections from the right and left.
1:49.6	Senate Majority Leader Chuck Schumer saying,
1:52.1	This demanded a bipartisan solution. We knew we'd need to come together for a solution like the
1:57.4	one that passed tonight. And so I'm happy to stand here passing this critical legislation.
	...

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