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House Democrats are up in arms that the White House isn’t pushing harder for tax hikes for the wealthy as part of the debt ceiling talks, fuming that the deficit-reduction debate has centered on Republicans’ insistence on sharp spending cuts. While President Biden has repeatedly called for tax hikes on wealthy Americans to accompany the…
Editor’s note: The Hill’s Morning Report is our daily newsletter that dives deep into Washington’s agenda. To subscribe, click here or fill out the box below. Close Thank you for signing up! Subscribe to more newsletters here The latest in politics and policy. Direct to your inbox. Sign up for the Morning Report newsletter It…
Speaker Kevin McCarthy (R-Calif.) emerged Monday evening from a roughly hour-long meeting with President Biden on the debt ceiling saying the latest conversation was “productive,” but that the two sides still don’t have an agreement on how to avoid default just days until the deadline. “I felt we had a productive discussion. We don’t have…
Speaker Kevin McCarthy (R-Calif.), who was narrowly elected Speaker in January after 15 ballots, is coming under heavy pressure from conservatives not to agree to any debt ceiling deal that falls well short of the House-passed legislation that cut $4.8 trillion from the deficit. So far, President Biden’s proposal to cap discretionary spending has fallen…
Treasury Department Secretary Janet Yellen warned lawmakers Monday that the nation will run out of funds to pay its debts by “early June, and potentially as early as June 1.” In a letter to Speaker Kevin McCarthy (R-Calif.) sent a little more than an hour before his scheduled White House meeting with President Biden to…
Editor’s note: The Hill’s Morning Report is our daily newsletter that dives deep into Washington’s agenda. To subscribe, click here or fill out the box below. Close Thank you for signing up! Subscribe to more newsletters here The latest in politics and policy. Direct to your inbox. Sign up for the Morning Report newsletter President…
Sen. Ted Cruz (R-Texas) said on Sunday that President Biden’s position on using the 14th Amendment to unilaterally address the debt ceiling, which the president outlined earlier in the day, is “legally frivolous.” “I think Biden’s position on the 14th Amendment is legally frivolous,” Cruz said on “Fox News Sunday.” “That’s a provision that was…
Speaker Kevin McCarthy (R-Calif.) signaled on Saturday that he doesn’t think debt limit negotiations can move forward until President Biden returns to Washington. “Unfortunately, the White House moved backwards,” McCarthy told reporters, as he left the Capitol with Rep. Garret Graves (R-La.) — the lead GOP negotiator, and Rep. Patrick McHenry (R-N.C.). “I don’t think…
President Biden said at the Group of Seven (G7) summit on Saturday that he believes the United States will avoid a default as the deadline for lawmakers to reach a deal approaches. Biden said at a press conference in Hiroshima, Japan, that he is “not at all” worried about the ongoing negotiations to raise the…
The White House on Friday night tempered its optimism about ongoing talks with Republicans on a budget agreement and debt ceiling increase, acknowledging the two sides have “serious differences” heading into the weekend. “We have serious differences and this is going to continue to be a difficult conversation. That’s not lost on us,” press secretary…