Democratic US President Joe Biden called on House Speaker Kevin McCarthy to outline this week the spending cuts Republicans want in exchange for votes to raise the government's debt ceiling
Biden urged the top congressional Republican to spell out his proposals before lawmakers leave Washington for a two-week recess set to start on Thursday.
McCarthy told CNBC earlier that he was prepared to lay out $4 trillion in spending cuts for Biden, if he would agree to meet. Republicans have not yet produced a budget plan of their own and could be weeks or months away from doing so. The political standoff, which has taken hold since Biden and McCarthy held an initial meeting in early February, has raised concerns in the financial markets about a possible U.S. debt default that could cripple the economy.
Members of the hardline House Freedom Caucus said McCarthy's letter paralleled their own spending proposals and claimed it showed adherence to a closed-door agreement with conservatives that allowed him to become speaker in January.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
President Joe Biden says US can’t buy spyware that other countries have used against itIf you want to sell the US spyware, you have to play by its rules.
Read more »
Fact Check: Did Joe Biden joke about ice cream before Nashville remarks?President Joe Biden was said to have caused 'outrage', joking shortly before speaking on Nashville.
Read more »
Report: Walker Who Shelled Out Family China Payouts Visted WH 16xBiden family business partner Rob Walker, who distributed payouts from a Chinese energy company to Biden family members, reportedly visited the White House 16 times while President Joe Biden was vice president.
Read more »
Joe Biden's new focus on Marjorie Taylor GreeneFor the first 18 months of his presidency, Biden rarely, if ever, mentioned Greene by name. Since November, he's referred to the congresswoman 10 times.
Read more »
What the Heck Is Joe Biden Thinking Lately?After his historic midterm wins, he’s suddenly tacking right. A new hire may be why.
Read more »
Biden badgers Bibi: Netanyahu says president warned bill to reform Israel Supreme Court threatens democracyIsrael Prime Minister Benjamin Netanyahu said that President Biden warned him not to mess with democracy in his country after his decision to reform the judiciary.
Read more »