“House Republicans are ruthlessly exploiting the threat of a debt default to try to seize control of the policy agenda,” JohnCassidy writes. “In the face of this cynical power play, the Administration needs all the leverage it can muster.”
. Although both made hopeful noises after the meeting, it seems quite possible that the standoff will continue right up until June 1st—nine days from now—the “X-Date” on which, according to Treasury Secretary Janet Yellen, the U.S. government may no longer be able to meet all its financial obligations.
The Republicans’ hard line has prompted progressive Democrats in both the Senate and the House of Representatives to demand that the White House prepare to invoke the Fourteenth Amendment of the Constitution as a way to circumvent the debt ceiling. If the Administration took this route, the Treasury Department would continue to sell new bonds after the X-Date, the proceeds of which would be used to make sure that the federal government continued to pay all its bills.
Based on the President’s public statements and conversations with people close to the White House, it’s clear that the Biden Administration is carefully examining all its options to avoid a technical default should there be no agreement by the X-Date.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Biden administration to pay three states $1 billion to conserve waterThe plan will reduce water use from the Colorado River in California, Arizona and Nevada through 2026.
Baca lebih lajut »
These Were the Top Baby Boy, Girl Names in Illinois For 2022, Social Security Administration SaysAs it turns out, the top baby boy and girl names for Illinois have been the same for the past 10 years. Can you guess what they are?
Baca lebih lajut »
Appeals court ruling deals legal setback to Biden administration in gun stabilizing brace caseA federal appeals court has dealt a legal setback to the Biden administration on guns in a lawsuit challenging tighter regulations on stabilizing braces, an accessory used in several mass shootings
Baca lebih lajut »
House votes to revoke tougher EPA emissions regulation for trucks | CNN PoliticsThe House voted Tuesday to rescind a Biden administration emissions regulation for heavy-duty trucks.
Baca lebih lajut »
House votes to revoke tougher EPA emissions regulation for trucksRepublicans criticize the emissions rule as overly burdensome, arguing it will hurt the trucking industry and have negative ripple effects through the economy. Democrats say the rule is needed to limit pollution and improve air quality across the US.
Baca lebih lajut »
California seeks EPA approval to phase out new gas-powered vehicle sales by 2035The state of California asked the Biden administration Monday to approve its plans for a waiver to require that all vehicles sold in the state be either fully electric or plug-in hybrid vehicles by 2035, according to the letter sent to the administration.
Baca lebih lajut »