**CHIP ROY’S 90-DAY ULTIMATUM: GOP’S DEBT CEILING WILDCARD**
*Key Takeaway: Rep. Chip Roy is using procedural leverage to tie the critical March debt ceiling lift to a $2.5 trillion spending cut framework. If his faction pulls support, the GOP loses its razor-thin majority—forcing Speaker Johnson into a binary choice: negotiate with conservatives or cross the aisle to Democrats. Roy’s move is a high-stakes power play that could fracture the party or force a government default. Impact: Market volatility. Timing: 90-day fuse.*