Biden’s quest to avoid national default

Objective: Suspend the national debt ceiling until January 2025

Progress:
Republican House Speaker ☑️
Rules Committee ☑️ (7–6)
Congress ⏳ (≥ 218 votes needed)
Senate ⏳ (≥ 60 votes needed)

Measures:
Reduced IRS funding
1% cap on non-defense spending for two years
Rescinding unspent COVID aid
Work requirement for older food stamp recipients
Approval of an Appalachian energy pipeline

Projected results:
Discretionary spending -$1.3 trillion over the decade
Mandatory spending — $10 billion
Net Revenues — $2 billion
> $2.1 trillion in savings