Newt Gingrich calls Biden-McCarthy debt deal 'dramatic victory'

Former House Speaker Newt Gingrich (R) said Sunday that the debt deal struck by President Joe Biden and House Speaker Kevin McCarthy (R-CA) is a "dramatic victory" for House Republicans even though they ended up getting quite a bit less than what they put forward in their debt bill originally.

Gingrich tweeted, "The Debt limit deal is a dramatic victory for Speaker McCarthy and House Republicans. Before they passed their history changing bill no one would have believed it possible to cut spending, reestablish work requirements, reform permitting for energy and infrastructure and more".

McCarthy said the deal was "worthy of the American people," adding that “It has historic reductions in spending, consequential reforms that will lift people out of poverty into the workforce, rein in government overreach. There are no new taxes, no new government programs.”

Not everyone was happy with the agreement. Sen. Ted Cruz (R-TX) said it gave too much to Democrats, including the ability to spend $4 trillion more than if the House bill had stood.

The bill will be voted on Wednesday of this week, giving it time to go to the Senate before a June 5 default deadline.