Some House Republicans are fretting about whether they’d be able to pass a watered-down version of their debt ceiling bill once the terms are negotiated with Senate Democrats and the White House, Axios has learned.

Why it matters: House moderates say House Speaker Kevin McCarthy (R-Calif.) and GOP leadership aren’t doing enough to tamp down expectations with the right-wing Freedom Caucus — harming the chances for any compromise bill.

State of play: Several GOP lawmakers believe clawbacks to unspent COVID funding is the most realistic spending cut to remain in a Senate bill, with one GOP member referring to the House-passed debt ceiling bill as “a fairy tale” and “not real.”