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Eric Cantor: Debt Ceiling Vote Will Be ‘Leverage Moment’ For GOP Spending-Cut Demands

WASHINGTON — House Republicans will demand major concessions before agreeing to raise the nation’s debt ceiling, Majority Leader Eric Cantor (Va.) said on Sunday, setting the stage for another showdown over spending. Cantor said on “Fox New…

WASHINGTON — House Republicans will demand major concessions before agreeing to raise the nation’s debt ceiling, Majority Leader Eric Cantor (Va.) said on Sunday, setting the stage for another showdown over spending.

Cantor said on “Fox News Sunday” that the House GOP was emboldened by the funding deal announced on Friday, in which the Obama White House and Senate Democrats agreed to roughly $38 billion in spending cuts. Lengthy negotiations over that deal nearly left the federal government unfunded and forced to shut down, but the stakes may be even higher for the debt ceiling, which must be raised to prevent the United States from defaulting on its loans.

In exchange for raising the debt limit — long a routine move allowing the Treasury Department to borrow more money — House Republicans will demand further concessions to shrink the government, Cantor said.

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