On Wednesday, House Republicans passed the Limit, Save, Grow Act of 2023, a bill to lift the debt ceiling and cut spending. The move not only delivered Speaker Kevin McCarthy a victory, but also put pressure on President Joe Biden to open negotiations. The measure passed 217 to 215, with only four Republicans voting against it. President Biden has pledged to veto the bill, and Democrats have stated that Republicans should increase the debt limit without conditions. Furthermore, Democrats claim that discussions about government spending should happen during the regular budget process. Nevertheless, if the bill had failed to pass, then House Republicans would have lost all leverage on the debt limit. The Senate would probably have come up with its own proposal and jammed the House. President Biden says that he is willing to meet with McCarthy, but not to talk about the extension of the debt limit. A default on the debt could occur as early as June if no congressional action is taken.