Tag Archives: debt ceiling

NBC News reports: President Joe Biden on Saturday signed into law a bill extending the debt ceiling for two years, averting an economically disastrous debt default ahead of Monday’s deadline. The Fiscal Responsibility Act of 2023 suspends the public debt limit through January 1, 2025, after the 2024 presidential elections. “If we had failed to reach an agreement on the …

The New York Times reports: After weeks of political impasse, tense negotiations and mounting economic anxiety, the Senate gave final approval on Thursday night to bipartisan legislation suspending the debt limit and imposing new spending caps, sending it to President Biden and ending the possibility of a calamitous government default. The approval by the Senate on a 63-to-36 vote brought …

The Washington Post reports: Senate leaders are working to tamp down any chance of last-minute issues in their ranks as Congress races to pass a debt ceiling suspension bill ahead of a Monday deadline. The House passed the bipartisan legislation late Wednesday night, giving the Senate just a few days to act on it before the government won’t have enough …

Axios reports: With a 314-117 House vote to lift the debt ceiling until 2025, Speaker Kevin McCarthy (R-Calif.) proved he could harness his narrow majority to force President Biden to make policy concessions on issues that are deeply important to both parties. McCarthy started his post-vote victory lap by thanking his negotiating team and then touting his accomplishment. “Tonight we …

ABC News reports: A deal to raise the nation’s debt ceiling is heading to a crucial vote in the House on Wednesday night, the next step in averting a potential default now just days away. The bill, titled the “Fiscal Responsibility Act,” cleared its first major hurdle Tuesday when the House Rules Committee advanced the bill in a 7-6 vote. …

The New York Times reports: The House voted on Wednesday to take up a bipartisan plan that would suspend the nation’s debt ceiling and limit spending, clearing a major procedural hurdle as lawmakers raced to act before a looming default. With Republicans in revolt over the measure, it fell to Democrats to help clear the way for the legislation, in …

The New York Times reports: Speaker Kevin McCarthy toiled on Wednesday to lock down the votes to pass his deal with President Biden to suspend the debt ceiling and set federal spending limits, as a stream of defections from hard-right lawmakers raised the stakes for a climactic set of votes on the package. With the nation’s first-ever default looming in …

CNBC reports: The compromise bill to raise the debt ceiling passed its first major test Tuesday night in the House Rules Committee, where it advanced to the House floor in a 7-6 vote, with two of the panel’s nine Republicans opposing it. A floor vote on the Fiscal Responsibility Act is planned for around 8:30 p.m. ET Wednesday, according to …

“Just five years ago Congressman Ron DeSantis voted for a debt increase deal (the Bipartisan Budget Act of 2018) and President Donald Trump signed it into law. The best way to fix Washington’s spending addiction is to elect people who have not been part of the problem. Adding at least $4 trillion to America’s $31 trillion national debt over two …

Axios reports: House Republican leaders are signaling confidence they’ll round up enough GOP votes to pass House Speaker Kevin McCarthy’s compromise with President Biden to raise the debt ceiling for two years. The leaders are trying to counter the notion that the loud complaints about the bill from members of the right-wing House Freedom Caucus — and other Republicans — …

Politico reports: Florida Gov. Ron DeSantis on Monday slammed the bipartisan debt ceiling deal, saying the country was still “careening towards bankruptcy.” “Prior to this deal, our country was careening towards bankruptcy, and after this deal, our country will still be careening towards bankruptcy, and to say you can do 4 trillion of increases in the next year and a …

The Hill reports: Senate Majority Leader Chuck Schumer (D-N.Y.) is warning Senate Democratic colleagues to prepare to stay in session right up until the June 5 deadline to pass a debt-limit deal because conservatives are threatening to drag out the debate and votes for as long as possible. Schumer also announced that President Biden’s negotiating team will brief Senate Democrats …

“I want to raise the debt ceiling; it’d be irresponsible not to do it. And I know you can’t get the perfect, but what I will not do is adopt the Biden defense budget and call it a success. “Kevin said that the defense is fully funded. If we adopt the Biden defense budget, it increases defense spending below inflation. …

The New York Times reports: Top White House and Republican negotiators on Saturday reached a deal in principle to raise the debt limit for two years while cutting and capping some government spending over the same period, a breakthrough after a marathon set of crisis talks that has brought the nation within days of its first default in history. Congressional …

Huddle reports: The multi-trillion-dollar question on everyone’s mind is whether the negotiators can reach an agreement to lift the debt ceiling before the clock ticks too much further. There’s lots of rumblings from lawmakers on both sides that there could be a handshake deal today, with lawmakers returning to Washington Tuesday or Wednesday for votes — but that may well …

CNN reports: House Speaker Kevin McCarthy appears set to send members home after votes on Thursday, signaling that debt negotiations with the White House will continue as the risk of a first-ever default grows. While the speaker urged lawmakers to stay close to the nation’s capital over Memorial Day weekend, his top deputy, House Majority Leader Steve Scalise, announced that …

“The vast majority of Americans feel like we’re not heading in the right track. And then you look at this debt ceiling crisis. You look at us about to default, and you see that president took 90 days out from negotiating. “He refused to come to the table with Republicans. Republicans have put a plan on the table and this …

The Associated Press reports: House Speaker Kevin McCarthy said Wednesday he was sending Republican negotiators to the White House to finish out debt limit talks. But McCarthy, R-Calif., said the two sides are “still far apart.” Time is short to strike a deal. Treasury Secretary Janet Yellen said Wednesday that “it seems almost certain” that the United States would not …

Semafor reports: Republicans have often bristled at accusations that they are resorting to hostage tactics by refusing to raise the federal debt ceiling without securing spending cuts. But on Tuesday, Florida Rep. Matt Gaetz leaned into the charge as he explained to reporters that he and his fellow hardline conservatives would likely reject any sort of compromise deal that watered …

The Hill reports: Senate Minority Leader Mitch McConnell (R-Ky.) tried to calm fears of a possible debt default Tuesday, pleading with everyone to “relax” as talks continue between the White House and House GOP negotiators ahead of the likely June 1 deadline. “I think everybody needs to relax,” McConnell told reporters in his home state, again reiterating that the nation …