Top U.S. House Republican Kevin McCarthy on Thursday said he is looking for a compromise with President Joe Biden on raising the nation’s debt ceiling and wants to explore spending cuts as part of the deal.
Speaking at a news conference, McCarthy said he has spoken with the White House several times and wants to find common ground so that the U.S. can tackle longer-term problems like reducing the national debt.
“I think we can find common ground, and I want to get us to a place where it deals with the debt,” McCarthy said. “We need to do something about the debt and it’s growing every day.
McCarthy said he wants to explore cuts to government spending and “offset” any new government spending with other cuts, in order to ensure the debt does not continue to increase.
“We don’t want to raise the debt ceiling to grow the debt more,” McCarthy said. “But you have to start somewhere and if it’s with the president, I think that’s the best place to start.
McCarthy also said he wants to explore other ways to tackle the debt issue, such as eliminating unnecessary government regulations and improving economic growth.
He said he also wants to "look at the corporate tax levels" and how they can be used to help reduce the national debt.
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