Two members of the nine Republicans, part of the House Rules Committee said that they would oppose bringing the compromise bill to raise the debt ceiling for a vote. However, it received a swing vote in the form of Rep. Thomas Massie of Kentucky, who said that he is inclined to send the bill to the floor.

“I anticipate voting for this rule,” Massie said about two hours into a marathon committee meeting, noting that this would be contingent on reading the final rule at the end of the meeting.

The panel’s makeup is heavily skewed toward the party in the majority, 9-4, a setup meant to ensure that legislation does not get held up by a few dissenters siding with the minority.

Voting on the Fiscal Responsibility Act is planned for around 8:30 PM ET Wednesday, or 6 AM IST on Thursday, according to a tentative House voting schedule.

In case of the debt ceiling being raised, it will go beyond next year's Presidential election and stretch into 2025. On Tuesday, a bloc of least 20 conservative Republicans announced they would oppose the compromise deal. They accused McCarthy of caving in to the White House in exchange for “cosmetic” policy tweaks, and not the transformative change they were promised.

Several prominent conservative groups also announced opposition to the bill Tuesday, and said they would measure or “score” GOP lawmakers by how they voted on it. The libertarian-leaning FreedomWorks group, the anti-tax Club for Growth and the conservative Heritage Foundation all panned the deal.

“Speaker McCarthy should pull this bad bill down. We should stop taking this bill up right now,” GOP Rep. Chip Roy of Texas, a member of the Rules Committee, said at a news conference. “And no matter what happens, there’s going to be a reckoning about what just occurred.”

Some Democrats were also leery of the bill, which contains new work requirements for food stamps, as well as reforms that make it easier to secure energy permits, and cuts to discretionary spending. But progressive leaders in the House stopped short of urging their like-minded members to oppose the bill.

“It’s usually a sign of a good compromise if there’s some folks who are a little bit unhappy on each side,” National Economic Council Deputy Director Bharat Ramamurti told CNBC.

If the Fiscal Responsibility Act were to stall in the Rules Committee, it would resurrect the imminent threat of a debt default, with less than a week before the deadline, which has now been extended to June 5.

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