House Republicans agree on Plan B government funding proposal with Trump’s debt limit hike

House Republicans have reached an agreement on a backup plan to avert a government shutdown before Friday’s deadline.

Multiple sources told Fox News Digital that the deal would extend the current level of government funding for three months and also suspend the debt limit for two years, something President Trump has demanded.

Trump praised the deal minutes after Fox News Digital reported its contents.

The deal also includes aid for farmers and about $110 billion in disaster relief funding for Americans affected by hurricanes Helene and Milton.

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It would also include certain health care benefits, minus reforms to Pharmacy Benefit Managers (PBMs), which some Republicans and Democrats pushed for but which others strongly opposed.

“Speaker Mike Johnson and the House have reached a very good deal for the American people,” Trump wrote of the deal. “The recently passed US Emergency Relief Act of 2024 will keep the government open, fund our great farmers and others, and provide relief to those hit hard by the devastating hurricanes.

“All Republicans, and even Democrats, should do what is best for our country and vote ‘YES’ on this bill, TONIGHT!”.

Meanwhile national debt recently surpassed $36 trillion and continues to grow. The national deficit is over $1 trillion.

Shortly after Fox News Digital’s report, House leaders released the legislative text of the bill. It came to about 116 pages, a far cry from their original 1,547-page legislation.

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It comes after conservatives led by Elon Musk and Vivek Ramaswamy torpedoed Speaker Mike Johnson’s original government funding plan on Wednesday, prompting fears of a partial government shutdown just before the holidays.

GOP hardliners were outraged by what they saw as unrelated measures and policy riders added to the bill at the last minute.

House Republicans began negotiations on a “clean” bill, known as a continuing resolution (CR), but these too were modified as Trump urged GOP lawmakers to pair a CR with action on the debt limit, which was expected to be a contentious match in the first half of next year.

Musk and Ramaswamy also lent their voices to the fight, with Musk calling on any Republican who supported the deal to lose their House seats.

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The original plan, which was bipartisan, was declared “dead” by House Majority Leader Steve Scalise, R-La., as he left the U.S. Capitol Wednesday night.

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In addition to averting a partial government shutdown through March 14, the bill also included a provision to allow for the revitalization of RFK Stadium in Washington, DC; permits to sell ethanol fuel year-round; and the first raise for lawmakers since 2009.

House lawmakers can vote on the new bill as early as Thursday evening.

But it is not immediately clear whether it would pass. Rep. Chip Roy, R-Texas, who also led opposition to the original bill, also blasted the new deal.

“More debt. More government. Increasing the credit card by $4 trillion with ZERO restraint on spending and cuts. HARD NO,” Roy wrote on X.

And House Minority Leader Hakeem Jeffries, DN.Y., told reporters heading into a closed-door meeting of the House Democratic Caucus: “The Musk-Johnson proposal is not serious. It’s ridiculous. Extreme MAGA Republicans are driving us to a government shutdown .”

Fox News’ Kelly Phares contributed to this report