Treasury Secretary Janet Yellen unexpectedly marked June 5 as the new deadline for avoiding a debt default in a letter to House Speaker Kevin McCarthy on Friday afternoon—not long after GOP leaders indicated their
in getting a debt ceiling deal completed despite mounting disagreements with the Biden Administration.to avoid a debt default. The estimate buys the White House and GOP negotiators four more days to strike a deal, after Yellen previously said the Treasury Department would be “highly likely” to run out of money to pay the federal government’s bills “as early as June 1.”
Earlier Friday, House Republicans signaled optimism regarding a potential deal with McCarthy saying progress had been made in the last 24 hours—however, obstacles still remain. Rep. Patrick McHenry noted that details were still in flux, as the White House and the GOP remain divided on Republican demands for spending cuts in exchange for raising the debt limit.“Each time there's forward progress, the issues that remain become more difficult and more challenging,” he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Debt ceiling explained: White House and Republicans are scrambling for a deal as default loomsIn just days, the U.S. government could run out of cash to pay its bills. Here's a look at the current state of debt ceiling negotiations and why they are happening.
Source: dothaneagle - 🏆 337. / 59 Read more »
Debt ceiling explained: White House and Republicans are scrambling for a deal as default loomsIn just days, the U.S. government could run out of cash to pay its bills. Here's a look at the current state of debt ceiling negotiations and why they are happening.
Source: TucsonStar - 🏆 339. / 59 Read more »
Hold the line: House Republicans must not cave on commonsense debt ceiling bill.RepChipRoy on the debt ceiling negotiations: 'As we approach the deadline in POTUS's manufactured debt ceiling 'crisis,' House Republicans must hold the line — not as a mere political strategy but because the future of our country depends on it.'
Source: dcexaminer - 🏆 6. / 94 Read more »
White House, Republicans Draw Closer to Debt Ceiling DealThe House of Representatives left for its Memorial Day weekend recess with no deal in place to raise the nation’s debt ceiling, as the White House and Republicans continued to wrangle over spending levels.
Source: WSJ - 🏆 98. / 63 Read more »
No debt ceiling agreement as White House, Republicans eye specific cuts, including IRS funding: ReportsThe Biden administration and congressional negotiators led by House Speaker Kevin McCarthy have still not reached a deal on raising the debt limit and cutting spending.
Source: FoxNews - 🏆 9. / 87 Read more »
US House Majority Leader Scalise: US House will recess, ready to return if debt deal reachedUS House Majority Leader Scalise: US House will recess, ready to return if debt deal reached – by anilpanchal7 UnitedStates RiskAversion NewsTrading Politics FiscalPolicy
Source: FXStreetNews - 🏆 14. / 72 Read more »