The U.S. could start running out of cash to pay its bills and face a potentially catastrophic default next week.
House Speaker Kevin McCarthy discusses the continuing impasse over raising the debt ceiling on Wednesday.
The contours of a deal have been within reach for days, but Republicans are unsatisfied as they press the White House team for more. The teams are also eyeing a proposal to boost energy transmission line development from Sen. John Hickenlooper, D-Colo., that would facilitate the buildout of an interregional power grid, according to a person familiar with the draft.
“Sign the bill!” Democrats yelled on the House floor after a Republican leader announced the holiday recess schedule. McCarthy has quipped that the Democrats “get a debt ceiling increase” — typically something both parties take responsibility for doing.
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