U.S. lawmakers are examining the details of an agreement to increase the country’s borrowing limit ahead of votes expected in the coming days, as both President Joe Biden and House Speaker Kevin McCarthy urge them to approve it. The proposal includes waiving the existing $31.4 trillion debt ceiling until January 2025 and a two-year budget […]
“Further evidence that this was never about the debt. It’s about squeezing families to protect billionaires.” Republican negotiators are reportedly close to securing as much as $10 billion in cuts to recently approved Internal Revenue Service funding as part of a debt ceiling deal with the White House, a development that critics said further shows the GOP’s […]
“It’s already hard enough for parents to make ends meet and now they’re being put at the center of these dangerous political games,” said one advocate. As Republican lawmakers on Friday walked away from negotiations over raising the United States’ arbitrary debt limit, claiming the Biden administration has been “unreasonable” in its refusal to accept steep spending […]
President Joe Biden “should not give in to hostage-taking,” said one economist. After meeting with congressional leaders earlier this week as the U.S. barrels toward a catastrophic debt default, President Joe Biden said that “we should be cutting spending,” a remark that fueled concerns among progressives that the White House is preparing to cede to […]