President Biden and House Speaker Kevin McCarthy have struck a tentative deal to raise the debt ceiling on Saturday night, sources close to the talks have said. The deal to raise the governmentR…
President Biden and House Speaker Kevin McCarthy have struck a tentative deal to raise the debt ceiling on Saturday night, sources close to the talks have said.
Ahead of the deal, treasury Secretary Janet Yellen said Friday afternoon the government won’t run out of money— four days later than was previously expected, relieving some pressure amid tense negotiations. The two sides have to carefully thread the needle in finding a compromise that can clear the House, with a 222-213 Republican majority, and Senate, with a 51-49 Democratic majority.
The GOP proposal would save $11 billion over the next decade by raising the maximum age for existing standards that require able-bodied adults who do not live with dependents to work or attend training programs. Failure to raise the borrowing limit would have catastrophic effects on the US and global economy, and raise concerns about the country’s leadership.
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.
House Upholds President Biden’s Solar Tariff Veto - CleanTechnicaToday the U.S. House of Representatives failed to achieve the two-thirds majority necessary to override the President’s veto of the Congressional Review Act legislation that would overturn his two-year solar tariff moratorium.
Read more »
Debt ceiling talks making 'progress' McCarthy says, talks narrow on deal ahead of looming deadlinePresident Joe Biden and the Republican speaker hope to strike a budget compromise this weekend.
Read more »
Debt ceiling talks making 'progress' McCarthy says, talks narrow on deal ahead of looming deadlinePresident Joe Biden and the Republican speaker hope to strike a budget compromise this weekend.
Read more »
Debt ceiling talks making 'progress' McCarthy says, talks narrow on deal ahead of looming deadlinePresident Joe Biden and the Republican speaker hope to strike a budget compromise this weekend.
Read more »
Debt ceiling talks making 'progress' McCarthy says, talks narrow on deal ahead of looming deadlinePresident Joe Biden and the Republican speaker hope to strike a budget compromise this weekend.
Read more »
LSU's Sa'Myah Smith Passes Out During President Biden's Speech At White HouseLSU player Sa'Myah Smith passed out during the Tigers' visit to the White House ... but thankfully, she's doing okay.
Read more »