Rep. Cory Mills (R-FL) is proposing a temporary extension on the debt ceiling in a bid to buy more time for a "new deal that’s fair to the American people."

Under his Go Back to the Table Act, the debt limit will be extended until June 12 with stipulations that the Treasury Department does not expand its balance above "normal operating balance levels" during that period of time.

DEBT LIMIT DEAL: WHERE IT STANDS AND WHAT IS STILL TO COME

“The debt limit deal is a great optics campaign for government restraint and fiscal accountability, but the fine print strips any hope that the provisions will be enforced. I believe the American people deserve better than unnecessary concessions," Mills said in a statement.

“The Limit, Save, Grow Act was a fiscally responsible and conservative bill. The Fiscal Responsibility Act is not what we passed," he added, referring to the GOP-backed debt limit proposal passed last month.

Mills quickly came out in opposition to the debt ceiling agreement, citing concerns that it didn't adequately roll back IRS funding, scrap President Joe Biden's student loan forgiveness plan, and left spending levels too high. Negotiators spent weeks crafting that agreement.

The debt ceiling deal, dubbed the Fiscal Responsibility Act of 2023, which was released Sunday, suspends the debt limit until January 2025 in exchange for keeping down nondefense and nonveteran discretionary spending growth until 2024, before increasing by roughly 1% in 2025.

If left in its current form, the measure could reduce the deficit by $1.5 trillion over the next 10 years, according to an estimate from the Congressional Budget Office. This is significantly below the $4.8 trillion the CBO projected the Limit, Save, Grow Act would reduce the deficit by over the next decade.

On Tuesday evening, the House Rules Committee narrowly voted 7-6 to move forward with the Fiscal Responsibility Act of 2023, clearing a key hurdle and teeing up a Wednesday vote. The bill is expected to receive a vote on Wednesday.

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Dozens of Republicans have already come out in opposition to the bill, complicating efforts by Speaker Kevin McCarthy (R-CA) and the White House to resolve the matter before the so-called X-date.

Treasury Secretary Janet Yellen warned that if Congress fails to act, the government will run out of cash to meet all its obligations as soon as Monday, raising concerns about a default.