House Speaker Mike Johnson (R-La.) said on Jan. 7 that congressional Republicans plan to raise the nation’s borrowing limit through a party-line reconciliation bill designed to encompass President-elect Donald Trump’s policy priorities.
Johnson described the debt cap increase as a necessary, pro-forma measure to avoid brinkmanship with Democrats that could destabilize bond markets and weaken the dollar while reaffirming the Republican commitment to reducing—not expanding—government spending.
