debt ceiling
U.S. House approves debt limit package, sending it to Senate days before default deadline
WASHINGTON — The U.S. House took a broadly bipartisan vote Wednesday night on the debt limit package, sending it to the U.S. Senate where lawmakers are expected to vote quickly to clear the measure. The bill would suspend the nation’s borrowing limit through Jan. 1, 2025 and set caps on discretionary spending for two years. […]
Debt limit deal hits turbulence in Congress as leaders prep for vote
WASHINGTON — Congress began moving the bipartisan debt limit package forward Tuesday, though frustrations with provisions in the bill could make for narrow passage in the U.S. House and U.S. Senate. Conservative Republicans and progressive Democrats both aired their disappointment with the agreement forged over the weekend, but only GOP lawmakers are looking to possibly remove […]
New work requirements for some SNAP recipients included in debt limit deal
WASHINGTON — The holiday weekend debt ceiling deal struck by President Joe Biden and House Speaker Kevin McCarthy preserves in part new work requirements for some food stamp recipients but now with exceptions for certain populations, including veterans. The agreement released late Saturday night showed concessions from both sides — from GOP members, who wanted […]
Biden, McCarthy say they have brokered a debt limit deal to avert U.S. default
WASHINGTON — House Speaker Kevin McCarthy announced a deal in principle Saturday night that would stave off a first-ever default on the nation’s debt as long as it can clear both chambers of Congress before June 5. The agreement would address the nation’s debt limit and include a “historic” reduction in spending, McCarthy said, though […]
With debt default as soon as a week away, U.S. House jets off for holiday break
WASHINGTON — U.S. House members walked down the steps of the Capitol building Thursday morning to head back to their districts for a Memorial Day recess that began exactly one week before the country could default on the debt. House Democrats took to the floor after the final vote of the week to give a […]
Progressives try to persuade Biden to use the 14th Amendment to resolve debt crisis
WASHINGTON — Progressives are pushing hard for President Joe Biden to take the unprecedented step of invoking the 14th Amendment as a way to avoid financial calamity if the White House and House Speaker Kevin McCarthy do not strike a deal on the debt ceiling in the coming days. The lawmakers and legal scholars argue […]
GOP’s desired work requirements for federal aid would kick roughly 21M from anti-poverty programs
Congressional Republicans’ efforts to slash federal spending by tying work requirements to Medicaid and SNAP would have far-reaching consequences for people with mental health issues, chronic health problems, and some people with disabilities if enacted, policy experts on anti-poverty programs say. They say the work requirements as laid out by House Speaker Kevin McCarthy’s “Limit, […]
Biden says he’s offered $1 trillion in spending cuts but GOP won’t budge on debt limit
WASHINGTON — President Joe Biden said Sunday his administration has offered $1 trillion in spending cuts as part of the ongoing talks with Republicans around a budget agreement, but he said no deal has yet been reached. Biden, speaking from Japan during a press conference following the G7 summit, said his administration wants House Speaker Kevin […]
A default on the U.S. debt would be far worse than a government shutdown. Here’s how.
WASHINGTON — A U.S. default on its debt would have a significantly broader impact on federal operations, financial markets and the global economy than recent government shutdowns that have left ordinary Americans largely untouched. While the two have been confused frequently during debate over the debt limit, the federal government has had considerable practice with […]
Overhaul federal permitting as part of the debt limit deal? Not as easy as it sounds.
Congressional leaders negotiating a deal to avoid a catastrophic default on the nation’s debt are talking about including an overhaul of how the federal government reviews projects for their environmental impact. There is bipartisan support for changes to the lengthy environmental approval process among climate-minded Democrats eager to speed construction of renewable energy projects, as […]
Biden vows debt ceiling talks will continue while he’s overseas at G7 summit
WASHINGTON — President Joe Biden will remain in “constant contact” with debt ceiling negotiators and promised to update the nation Sunday upon his return from a shortened trip to Asia for the G7 economic summit. Biden delivered brief remarks Wednesday before departing on a scheduled trip to Japan that will no longer include stops in […]
Some movement reported in debt limit talks as Biden cuts short overseas trip
WASHINGTON — President Joe Biden and congressional leaders struggled to find common ground on the debt ceiling during a Tuesday meeting, though lawmakers said afterward there was some progress toward a deal. Biden and U.S. House Speaker Kevin McCarthy will become the two primary negotiators on a bipartisan debt limit bill that could include other […]