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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…
Congress and the White House have just 10 days to reach a deal to raise the debt ceiling before the Treasury Department estimates the nation risks default. But major sticking points have emerged in the past week. Friday’s negotiations snagged on disagreements over spending but resumed over the weekend as pressure mounts on both sides…
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…
Julie Su’s nomination to become Labor secretary is coming down to the wire as Democrats drag their feet on bringing her up for a final vote and admit her confirmation fight will be a close call. Su, the acting Labor chief who served as former Labor Secretary Marty Walsh’s No. 2 at the department, is…
Speaker Kevin McCarthy (R-Calif.) said on Sunday that a call he had with President Biden about the debt limit and looming default earlier in the day was “productive” and that the pair will meet in-person on Monday upon the president’s return from Japan. “I believe it was a productive phone call,” McCarthy told reporters, noting…
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…
Sen. Bill Cassidy (R-La.) on Sunday said he does not believe former President Trump can win another general election as he campaigns for the GOP nomination in 2024. CNN’s “State of the Union” host Jake Tapper highlighted comments from Florida Gov. Ron DeSantis, who is expected to launch his own 2024 bid later this week,…
President Biden on Sunday said he believes he has the authority to use the 14th Amendment to unilaterally address the debt ceiling, but he acknowledged potential legal challenges could still lead the nation to default if he went that route. “I’m looking at the 14th Amendment as to whether or not we have the authority…
President Biden on Sunday called on Republican lawmakers to compromise in ongoing budget and debt ceiling talks, warning that their current position is too extreme and cannot pass a narrowly divided Congress. Biden spoke to reporters from Hiroshima, Japan where he has been attending the Group of Seven (G7) Summit, and warned that he would…