McCarthy, graves signal impasse in White House debt talks

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Speaker Kevin McCarthy left the US Capitol late Tuesday afternoon saying the two parties had yet to reach a deal to avert a first-ever US default, and a top lieutenant said there are no more meetings planned. Moneyweb WhiteHouseDebt

Speaker Kevin McCarthy left the US Capitol late Tuesday afternoon saying the two parties had yet to reach a deal to avert a first-ever US default, and a top lieutenant said there are no more meetings planned. Republican Representative Garret Graves, one of McCarthy’s chief negotiators, suggested just hours after a two-hour meeting in the Capitol with his White House counterparts that the two sides were at a standoff.

But fundamental disagreements remain on spending and work requirements as the calendar veers closer to June 1. Hakeem Jeffries, the top Democrat in the House, told reporters that a freeze at 2023 spending levels would be a “reasonable” compromise. Jeffries, who has opposed work requirements, said any deal that needs Democratic votes will need to reflect Democratic priorities. Graves said House Republican negotiators are “open” to additional meetings with the White House team.

 

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