Neither side is expecting a solution to emerge from just one meeting, and observers say the talks are most likely to serve as the opening bell for months of back-and-forth maneuvering
House Republicans want to use the debt ceiling as leverage to exact cuts in spending by the federal government, though they have not united around any specific plan to do so. The White House contends that it will not negotiate over the increase, which is necessary to cover costs of spending programs and tax cuts previously approved by Congress.
Biden is expected on Wednesday to call for McCarthy to release a specific budget plan and to commit to supporting the nation’s debt obligations, according to a White House memo seen by Reuters. Unlike most other developed countries, the United States puts a hard limit on how much it can borrow, and Congress must periodically raise that cap because the U.S. government spends more than it takes in.
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President Biden to end COVID-19 emergencies on May 11President Joe Biden informed Congress on Monday that he will end the twin national emergencies for addressing COVID-19 on May 11, as most of the world has returned closer to normalcy nearly three years after they were first declared.
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President Biden to end COVID-19 emergencies on May 11President Joe Biden informed Congress on Monday that he will end the twin national emergencies for addressing COVID\u002D19 on May 11
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