WASHINGTON — Pushing to strike a debt ceiling deal, the Republican negotiating team headed Wednesday to the White House for more discussions with the sides still far apart. Time is short: There are just days left before the government could run out of cash to pay its bills.
The vote in more recent times has been used as a political leverage point, a must-pass bill that can be loaded up with other priorities. But facing the prospect of the government running out of money to cover all its bills, Biden launched negotiations with Republicans.The talks have been a weeks long see-saw of positive signs and rocky moments — a grind.to cut spending while Biden’s team offered to hold spending levels flat.
There are also policy priorities under consideration, including steps that could help speed the construction and development of energy projects that both Republicans and some Democrats want. McCarthy has promised that he will allow 72 hours for lawmakers to look over any proposed deal before it is brought for a vote, so the soonest the House could vote at this point is over the weekend. It would then have to go to the U.S. Senate next week, where Senate Majority Leader Chuck Schumer, D-N.Y., has said it could pass more quickly.