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McCarthy debt ceiling plan would reduce deficit by $4.8 trillion over next decade, CBO says

By Cami Mondeaux
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McCarthy debt ceiling plan would reduce deficit by $4.8 trillion over next decade, CBO says


The debt ceiling package proposal by House Speaker Kevin McCarthy (R-CA) could drop the nation’s deficit by $4.8 trillion over the next 10 years, according to an estimate by the Congressional Budget Office.

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Budgets and Deficits Congress Debt Ceiling Fiscal Policy House of Representatives Kevin McCarthy Republican Party