Rep. Andy Biggs, R-Ariz., told Newsmax on Wednesday that he won't vote for the deal on the debt ceiling, saying it's "dubious" that the plan will save as much as is estimated.
Biggs said on "National Report" that he's a "hard no" on the deal that President Joe Biden reached with House Speaker Kevin McCarthy, R-Calif., to suspend the debt ceiling while limiting federal spending to avoid the U.S. defaulting.
Treasury Secretary Janet Yellen said in a letter last Friday that the Treasury is required to make more than "$130 billion of scheduled payments in the first two days of June," a situation that would drain the agency's resources.
"They claim they're going to get $130 billion a year in savings for 10 years, and [in] a two-year period of time they're going to raise the national debt by $4 trillion," Biggs said.
"So when you go a year to year, heads up, … you save $130 billion, and that's if … they're telling the truth," which he said is "dubious."
Biggs said, "That's a dubious thing, because I know how they're basing that, and they're gonna instead increase our national debt by $2 trillion per year. That is not a win."
When asked if he's worried about the Republican Party fracturing over the agreement, Biggs said he's "much less worried about that than the fact that Mr. McCarthy, the speaker, basically negotiated to give the Democrats substantially what they want."
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