Kevin McCarthy, Speaker of the U.S. House of Representatives. (File image/RHC)

Washington, May 29 (RHC) U.S. House Speaker Kevin McCarthy released the bill to raise the debt limit, while Democrats and Republicans debate Monday the tentative agreement to avoid default.

The 99-page bill raises the ceiling for two years, strengthens work requirements in federal public assistance programs, and rescinds approximately $28 billion in unused Covid-19 funds.

It also caps defense spending at 886 billion for FY 2024, in line with Biden's budget request for that item earlier this year, and 895 billion for FY 2025.

Veterans health care is funded at 121 billion for FY 2024, while other non-defense discretionary programs get 637 billion.

It also rescinds 1.4 billion in funding that was appropriated to the Internal Revenue Service as part of the Inflation Reduction Act, which Democrats passed last summer.

The release of this bill officially starts the clock on the 72-hour rule, which gives representatives at least three days to review a bill before voting on it.

The House is expected to vote on the bill Wednesday and then it will be sent to the Senate for consideration.

But Democratic and Republican leaders will first have to muster enough support to get the legislation through the legislature, a task that could become more complicated as liberals and conservatives voice their concerns.

After the deal between President Joe Biden and McCarthy was confirmed late Saturday night, members of Congress from both sides of the aisle had mixed feelings.

The disagreements came primarily from the conservative wing of the lower chamber, where representatives such as Dan Bishop, Chip Roy, and Ken Buck expressed that they "didn't like the deal."

"The bottom line is that the United States will be $35 trillion in debt in January 2025. That is completely unacceptable," tweeted Buck.

Rep. Ralph Norman, a member of the conservative Freedom Caucus wrote on Twitter that "this deal is insane. I will not vote to bankrupt our country. The American people deserve better."

For their part, some Democrats were frustrated by provisions such as strengthened work requirements for public assistance programs.

Rep. Pramila Jayapal, who chairs the Congressional Progressive Caucus, noted that the Democratic leadership should not count on the group's support just yet.

Meanwhile, conservative Senator Mike Lee is threatening to use procedural maneuvers to delay its passage. (Source: PL)