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This is a new era of American Innovation. Find out more at g.co slash American Innovation. Good morning. I'm Anna Palmer and welcome

to the Daily Punch, brought you by Punch Bowl News. It's Tuesday, 18th, 2022. Let's get into the mix. Here are

your Washington headlines of the day. Number one, we've got more from our interview with Kevin

McCarthy. Number two, Republicans spending big against Sean Patrick Maloney in New York.

And number three, a look around the campaign ad landscape. All right, let's get into it.

It is just me this morning. We are three weeks until Election Day. We're going to focus again today

on our recent discussions with House Minority Leader Kevin McCarthy over what governing would

look like in a potential GOP majority.

Of course, a lot of folks are trying to game that out as we consider a potentially new Washington

where it's not controlled completely by Democrats, but potentially the House is controlled by

Republicans, maybe even the Senate,

but we're obviously focusing on the House right now. So let's get into it. Number one,

the debt limit. This is probably the most sensitive item House Republicans are going to have

to deal with in a new majority. It's the nation's statutory borrowing cap, and it's going to be needed

to be lifted at some point in 2023, probably during the second half of the year. And as many

of you all will remember, the debt limit was really one of those bruising battles of the Obama

presidency under then speaker John

Boehner.

The U.S. government's credit rating was downgraded for the first time ever following that

...