After Republican lawmakers walked out of negotiations citing “unreasonable” requests from the Biden administration, negotiations to raise the debt ceiling will resume Friday night despite a sudden stumble earlier in the day, House Speaker Kevin McCarthy told reporters.
“We’re back in the room tonight,” McCarthy said in an interview with Fox Business, just hours after Rep. Garrett Graves (R-LA) said, “because he’s not a producer.” After an hour-long meeting with President Joe Biden’s team on Friday.
Graves was appointed earlier this week by House Speaker Kevin McCarthy (R-Calif.) to manage negotiations with the White House on behalf of the Republican Party.
McCarthy confirmed that negotiations were again deadlocked earlier on Friday, telling reporters, “We don’t have any movement yet,” while attributing the deadlock to the White House’s refusal to cut federal spending, one of the demands made by the GOP in return. To raise the $31.4 trillion borrowing limit.
These statements were a reversal of McCarthy’s expressions of optimism just one day earlier, when he said he saw “a path we could go”, though he reiterated that the two sides had “not agreed on anything yet”.
McCarthy also said Thursday he hopes to reach a deal by the end of this week and pass a new debt ceiling bill through the House of Representatives next week ahead of the June 1 deadline set by Treasury Secretary Janet Yellen when the federal government may run out of cash and be unable to. . pay their bills.
Former President Donald Trump wrote almost immediately in the wake of Graves’ statement urging Republicans not to make a deal “unless they get everything they want,” he wrote on Truth Social, adding: “DO NOT FOLD!!!”
After months of deadlock, McCarthy and Biden began meeting last week to discuss a deal to raise the federal debt ceiling, and on Tuesday appointed negotiating teams to lead the talks. The White House deployed Biden advisor Steve Ricchetti and Office of Management and Budget Director Shalanda Young, marking a small step forward in the discussions. Republicans seek to cut federal spending and roll back key Biden policy priorities, while the White House pushes for a debt ceiling bill without strings attached. Biden has expressed openness on at least one condition: raising the age required to work in order to receive welfare benefits — a sentiment that has spooked progressive lawmakers.
The impasse came as conservatives and progressives in the House said they would refuse to budge from their positions, putting McCarthy in a difficult bind in which he might fail to obtain the 218 votes needed to pass the legislation through the House. The House Freedom Caucus, made up of about 50 right-wing members of Congress, urged McCarthy and Graves to close negotiations Thursday and said they would not approve any debt ceiling bill other than the one passed by the House last month that includes a chain of custody. Spending cuts and the decline of Biden’s policy. The legislation has not started in the Democratic-controlled Senate, and Biden has threatened to veto it, however, which means McCarthy will need some Democrats to vote for a new debt ceiling bill. Several members of the about 100 left-leaning Progressive Caucus also said they would not approve legislation that would include spending cuts, Rep. Alexandria Ocasio-Cortez (D-N.Y.) Politico on Friday while highlighting a McCarthy math problem.
20%. That’s the percentage of Americans who closely follow the debt-ceiling debate, according to an AP/NORC poll on Friday that found that a majority of respondents, 63%, support a debt-ceiling bill that includes spending cuts.
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