Republican Kevin McCarthy said on Saturday he was making 'progress' in negotiations with Democratic President Joe Biden on raising the federal debt ceiling.
on raising the federal government's debt ceiling, as the nation faced risk of default in little more than a week.
"We do not have a deal," McCarthy told reporters. "We are not there yet. We did make progress, we worked well into early this morning. And we're back at it now." Republicans have sought to curb government spending sharply over the coming 10 years to slow the growth of the U.S. debt, which is now equal to the annual output of the economy.The two sides have tentatively reached an agreement that would raise the debt ceiling by enough to cover the country's borrowing needs through the November 2024 presidential election.
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Republican lawmakers, House Freedom Caucus demand Kevin McCarthy hold the line on debt ceiling negotiationsMembers of the right-wing House Freedom Caucus and other GOP lawmakers are pressuring Speaker Kevin McCarthy (R-Calif.) to stand firm in debt ceiling negotiations with President Biden.
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McCarthy cites 'progress' in US debt-ceiling talks with White HouseAny deal in principle between President Biden and top congressional Republican Kevin McCarthy will be the start of what could easily be a week-long process of shepherding legislation through the narrowly and bitterly divided Congress.
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McCarthy’s Republicans push debt ceiling talks to brink, lawmakers leaving town for weekendA defiant House Speaker Kevin McCarthy said the debt ceiling standoff was “not my fault” as Republican negotiators and the White House failed to finish out talks.
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Debt ceiling talks teeter on the brink, as lawmakers leave town for weekend without a dealLawmakers are tentatively not expected back at work until Tuesday, just two days from June 1, when Treasury Secretary Janet Yellen has said the U.S. could start running out of cash to pay its bills and face a federal default.
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House conservatives blanch at leaked details of McCarthy-Biden debt talksThe group was already unlikely to support a final bipartisan deal, but lingering anger with Kevin McCarthy could have lasting implications on his speakership.
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Democrat questions Biden's debt ceiling talks with 'economic terrorists'A deal was still not struck between the White House and House Speaker Kevin McCarthy on Thursday before House lawmakers headed for holiday recess.
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