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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…
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…
The White House is aiming to arrange a phone call between President Biden and Speaker McCarthy (R-Calif.) to try and get talks over avoiding a default back on track once the president has wrapped up his meetings at the Group of Seven (G-7) Summit in Japan on Sunday. A White House official said in a…
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 high-stakes battle over the debt ceiling in Washington is spilling over into financial markets. Stock values have whipsawed and bond yields have spiked in recent weeks as Wall Street becomes increasingly fearful of a federal default. Experts say the damage could be minor and ultimately reversible if lawmakers can avert a default. But the…
A group of Democratic senators led by Sen. Tina Smith (Minn.) are circulating a letter urging President Biden to invoke his constitutional authority under the 14th Amendment to raise the nation’s debt limit without having to pass legislation through Congress. These senators say the spending reforms that Speaker Kevin McCarthy (R-Calif.) has demanded in exchange…