Wednesday's vote by House Republicans to pass the Limit, Save, Grow Act of 2023 marks a new phase in the standoff between Republicans and Democrats over the debt ceiling. This bill, crafted by Speaker Kevin McCarthy, R-Calif., was intended to be the opening bid for the GOP's negotiation with President Joe Biden regarding raising the debt ceiling. The 320-page bill passed with all but four members of the Republican caucus giving McCarthy a win, but the victory came at a cost. In cobbling it together, McCarthy used much of the capital he would need to resolve the crisis and remain as speaker. The bill includes massive cuts to spending, such as repealing climate-related provisions and funding for the IRS in the Democrats' Inflation Reduction Act.

The White House and congressional Democrats are preparing to increase attacks on House Republicans over the bill. They will target swing-district members for endorsing a plan that would strip investments in their home districts and gut funding for popular programs. The Democrats' public confidence in winning the messaging war masks concerns over what damage the standoff may do to a recovering economy that is critical to Biden's case for re-election. Biden remains firm in his demand for an unconditional increase to the debt ceiling, and his party's majority does not feel the need to negotiate with Republicans.