borrowing limit

Investigators compiled 9,700 pages of text messages, including those in which the alleged bookmakers asked Mizuhara to pay his gambling debts, and Mizuhara asked for “bumps,” slang for increasing his borrowing limit with the gambling operation.

Those savings would build on discretionary spending limits that Mr. Biden and congressional Republicans agreed on last year to resolve a standoff over raising the nation’s borrowing limit.

Last year, one other key fissure was how the Democrats voted on a deal between President Biden and then-Speaker Kevin McCarthy to suspend the nation’s borrowing limit until 2025 and impose cuts on certain federal programs that are popular among Democrats.

Biden has called on McCarthy to stick to the annual spending numbers they negotiated to raise the nation’s borrowing limit.

But with a thin majority and a shaky hold on his leadership position, McCarthy has allowed House Republicans to craft packages that cut below the agreement he struck in May with President Joe Biden to suspend the nation’s borrowing limit.