Why does the U.S. keep raising the debt limit?
McCarthy, however, has been able to keep these voices largely at bay. His ability to pass a debt limit and spending bill last month solidified his calls for negotiations. Many of the Washington budget groups and business lobbyists agree, as a matter of principle, with McCarthy’s call for reducing the deficit by cutting spending. And Biden’s outright rejection of even the possibility of talks alienated nonpartisan groups, however much they agreed that the debt ceiling needed to be raised.
Business lobbyists have much less influence with House Republicans than they once did, amid a growing split between corporate America and the GOP over a raft of policy issues and the rise of Trump-inflected populism.