On Sunday, Joe Biden addressed reporters, telling them that the deal “represents a compromise, which means no one got everything they wanted. But that’s the responsibility of governing,” noting, “The agreement prevents the worst possible crisis and default for the first time in our nation’s history.”
The move comes as the U.S. was set to default on its debts by June 5, 2023. Speaker Kevin McCarthy (R-CA) and other Republicans worked on negotiations with the White House to bring forward a solution.
When asked about Democrats saying Biden made concessions, he said, “They’ll find I didn’t.”
The compromise includes minor victories for conservatives with such things as reverting unspent COVID-19 funds, cutting the IRS expansion, and work requirements for federal programs, among others.
“As part of the deal, nondefense and nonveteran discretionary spending growth will be effectively kept down until 2024 before increasing by roughly 1% in 2025,” reported the Washington Examiner.
NPR noted, “Republicans had sought to repeal Biden’s efforts to waive $10,000 to $20,000 in debt for nearly all borrowers who took out student loans. But the provision was a nonstarter for Democrats. The budget agreement would keep Biden’s student loan relief in place, though the Supreme Court will have the ultimate say on the matter.”
With Biden’s statement that he “didn’t” compromise on the budget, it makes one wonder what McCarthy gave up in order to close the deal.
Freedom Caucus members are already vowing to oppose the budget, potentially creating a scenario where the legislation does not pass the U.S. House. Sen. Mike Lee (R-UT) also vowed to slow down the deal in the Senate if it lacked “substantial reform.”