Here's a quick summary of the so called "reasonable" debt ceiling proposal
@Jim_Jordan thinks to be a good thing.
@SpeakerMcCarthy so called "Limit, Save, and Grow Act of 2023" is anything but "reasonable." It will further enrich the rich and protect the wealthy, while screwing over the American people.
1) It PROHIBITS student loan "giveaways"
2) REPEALS green tax credits - there are 11 Biden administration green tax credits rescinded in this bill.
3) Under Family and Small Business Taxpayer Protection — it mentions nothing about family or businesses, but rescinds Biden's funding for the IRS.
4) SNAP Exemptions — they raised the age to where you can stop working and still receive SNAP benefits from 50 to 56
5) They want the President to issue a written notice determining the reason behind an Executive Order.
6) the President can't issue any postponements on fracing unless authorized by Congress
7) NO Presidential permit shall be required for the construction, connection, operation, or maintenance of an oil or natural gas pipeline or electric transmission facility, or any border-crossing facility.
8) This explains #7 - which expresses Congress' disapproval of Biden canceling Keystone XL
9) Calls to REPEAL many provisions from the Clean Air Act
10) Repealing high-efficiency electric home rebate programs and home energy efficiency contractor training grants.
11) They expressed disapproval of Biden's $31,000,000,000 tax hike on oil and natural gas producers
12) They want to reduce oil and gas royalty rates from the current 16.67 percent down to 12.5 percent. Thereby saving the oil and gas companies money.
13) Raise the debt ceiling to $1,500,000,000,000 until March 31, 2024
There is A LOT in this 320 page bill. I just skimmed over it, so I know I didn't cover everything.