Top White House officials and Republican lawmakers were nearing a deal Thursday evening that would raise the debt limit for two years while also limiting federal spending on all but the military and veterans, according to news reports. If the deal can be agreed upon and enacted, it would raise the government’s borrowing limit for […]
U.S. President Joe Biden, House Speaker Kevin McCarthy and other top congressional leaders appeared no closer Tuesday to a deal aimed at reaching agreement on raising the country’s debt ceiling so the government can borrow more to pay its existing obligations. The impasse comes amid dire warnings from the U.S. Treasury that a default could […]
One progressive critic said the GOP bill is “a reflection of just how totally controlled by the fringes of his caucus McCarthy is.” Far-right House Republicans are reportedly “thrilled” with the debt ceiling legislation that Speaker Kevin McCarthy unveiled earlier this week. That’s likely because, according to Rep. Matt Gaetz (R-Fla.), McCarthy (R-Calif.) simply “picked up the […]
WASHINGTON —U.S. House Speaker Kevin McCarthy pledged Monday that the narrow Republican majority in the House of Representatives will vote to raise the country’s debt ceiling to avert a default on the government’s financial obligations in the coming months, but will also stipulate that future spending increases be capped at 1%. The White House strongly […]