House Speaker Kevin McCarthy is proposing a bipartisan commission to outline future budget cuts in hopes of mollifying hardline conservatives opposed to his debt limit deal.
and Mr. Biden have further agreed to streamline the federal permitting process for new energy projects. The deal includes a pay-as-you-go provision requiring Mr. Biden to offset any rules or regulations that increase federal spending.
The agreement would expand work requirements for recipients of food stamps and direct cash payments. Able-bodied, childless recipients of each program 54 and younger would have to work at least 20 hours per week to keep their benefits. The work requirements would expire in 2030.The agreement represents a compromise for Mr.
and Mr. Biden. House Republicans initially sought a $130 billion cut to nondefense spending this year and a decade’s worth of spending caps.had sought to cancel Mr. Biden’s student loan forgiveness program and rescind more than $200 billion in green energy tax credits that Democrats passed last year. Both demands were sidelined amid opposition from the White House.
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