On Wednesday, House Speaker Kevin McCarthy (R-CA) shared his proposal to temporarily raise the debt ceiling by up to $1.5 trillion for a year, which he calls Limit, Save, Grow Act to help taxpayers save more than $4.5 trillion. The proposed bill targets President Joe Biden's priorities, such as eliminating the student loan forgiveness plan, limiting discretionary spending, retrieving unspent pandemic-related funds while a debt-ceiling increase will be applied for a year. Although McCarthy did not specify when he would vote on the bill or if he does have enough support to pass, he needs to sway skeptical conservatives and swing-district Republicans while avoiding alienating moderates. During the last few weeks, McCarthy and his team have been trying to gather a package to match the debt limit increase. However, it's improbable that the Democratic-controlled Senate will green-light the bill if it passes the House. Additionally, the White House has opposed any compromise that links the debt limit to policy concessions, which makes it more difficult to pass a debt ceiling increase because of the stance of Biden and Senate Majority Leader Chuck Schumer; it is a matter of when the Treasury would be on track to exhaust its maneuvers to keep the government from defaulting on US debts.