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House Minority Leader Hakeem Jeffries (D-N.Y.) said Monday that he’s open to the idea of freezing spending at current levels in order to secure a debt ceiling deal — an idea supported by President Biden but is sure to infuriate liberals in Jeffries’ own Democratic Caucus. “As part of the effort to find common ground we’re…
Bipartisan negotiators racing to secure a debt ceiling deal voiced new confidence on Thursday that they’ll locate a compromise before a federal default. But even as President Biden and Speaker Kevin McCarthy (R-Calif.) both hinted at significant progress in the talks, rank-and-file lawmakers in both parties are raising alarms about the concessions their leaders have…
President Biden and congressional leaders made little progress toward securing a deal to raise the nation’s debt limit at a crucial meeting Tuesday afternoon — though they did express some optimism about future talks between staff from the White House and Speaker Kevin McCarthy (R-Calif.). The talks hit a roadblock before the principals arrived at…
Speaker Kevin McCarthy (R-Calif.) on Tuesday left a meeting on the debt ceiling with President Biden and other congressional leaders saying the structure of negotiations had improved and that he held out hope a deal would be possible in the coming days. While the two sides are still working through key differences, McCarthy told reporters…
The head of the House Democrats said this week that tougher work requirements for social benefits won’t fly with members of his caucus, setting the stage for a drag-out fight with GOP leaders who are insisting on those provisions as a condition of raising the debt ceiling. House Minority Leader Hakeem Jeffries (D-N.Y.) on Monday…
Homebuyers and renters alike could feel relief later this year as home prices stabilize, mortgage rates decline and rent price growth continues to slow. Economists expect the Federal Reserve to pause rate hikes for a time while it observes incoming economic data, some stemming from the banking crisis that led to tightened lending. This could…
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President Biden and the top four congressional leaders, including Speaker Kevin McCarthy (R-Calif.), came away from their Tuesday meeting with no path forward to avoid the nation defaulting on its debts. The president’s meeting with McCarthy, House Minority Leader Hakeem Jeffries (D-N.Y.), Senate Majority Leader Chuck Schumer (D-N.Y.) and Senate Minority Leader Mitch McConnell (R-Ky.)…
Speaker Kevin McCarthy (R-Calif.) on Tuesday shot down the idea of moving a short-term debt ceiling hike to prevent a government default. Just hours before McCarthy is scheduled to meet with President Biden on the issue, the Speaker said the sides should come together to negotiate a compromise — combining a debt ceiling increase with sharp…
President Biden and his team are approaching the prospect of a debt ceiling escape hatch that hinges on the 14th Amendment with extreme caution ahead of a pivotal meeting with congressional leaders at the White House on Tuesday. Some officials have openly voiced concerns about the legal standing of using the 14th Amendment to solve…