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Rep. Matt Gaetz (R-Fla.) said on Tuesday that passing a debt deal without a Republican majority in the House would trigger an “immediate” motion to oust Speaker Kevin McCarthy (R-Calif.). “If a majority of Republicans are against a piece of legislation and you use Democrats to pass it, that would immediately be a black letter…
After President Biden and Speaker Kevin McCarthy (R-Calif.) signed off on a final budget agreement and a raise of the debt ceiling, the two sides moved onto a difficult task: selling the legislation to their respective parties to get it passed through Congress. Conservative Republicans and progressive Democrats have been quick to voice concerns with certain aspects…
Speaker Kevin McCarthy (R-Calif.) released text of the bill to raise the debt limit on Sunday evening as Democratic and Republican leaders work to corral support ahead of this week’s vote. The bill — which spans 99 pages — raises the debt limit for two years, strengthens work requirements on federal public assistance programs and rescinds…
President Biden and Speaker Kevin McCarthy (R-Calif.) reached an agreement in principle to raise the debt limit Saturday night, capping off days of high-stakes negotiations between emissaries for the White House and GOP conference. The deal raises the debt limit for two years, beefs up work requirements on federal public assistance programs and claws back…
Sen. Lindsey Graham (R-S.C.) took aim at the defense spending proposed in the debt ceiling deal, saying on Sunday that adopting what he labeled as President Biden’s defense budget would be a “joke.” “I want to raise the debt ceiling, it would be irresponsible not to do it,” Graham told Shannon Bream on “Fox News…
Speaker Kevin McCarthy said on Sunday that the student loan payment pause is “gone” in the debt ceiling deal announced by the California Republican and President Biden late Saturday night. “The pause is gone within 60 days of this being signed. So that is another victory because that brings in $5 billion each month to…
President Biden on Wednesday said raising the debt limit is “not negotiable” as House Republicans prepare to pass a bill that would pair a debt limit increase with government spending cuts. “I’m happy to meet with [Speaker] McCarthy, but not on whether or not the debt limit gets extended. That’s not negotiable,” Biden told reporters…
Five ways a federal debt default could hurt Americans Americans are getting a crash course on the country’s borrowing limit, as a high-stakes standoff on Capitol Hill dominates national attention. Last month, the Treasury Department announced it’s implementing “extraordinary measures” to keep the nation from defaulting on its debt, after it hit the roughly $31.4…
McCarthy tries to get out of his box on debt ceiling House Speaker Kevin McCarthy (R-Calif.) is pressing for Democrats to come to the bargaining table and begin negotiations to address the nation’s debt limit, as he faces pressures within his party to make good on significant fiscal reform. McCarthy called on the White House to start…
Yellen says US is projected to hit debt ceiling on Jan. 19 Treasury Secretary Janet Yellen said the U.S. is projected to reach its roughly $31.4 trillion borrowing limit in less than a week. Yellen shared the estimate in a letter to Speaker Kevin McCarthy (R-Calif.) on Friday. She also warned the department would soon have…