Biden: Debt deal ‘very close’ even as two sides far apart on work requirements for food aid

  • 📰 WashTimes
  • ⏱ Reading Time:
  • 69 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 31%
  • Publisher: 63%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

Biden: Debt deal 'very close' even as two sides far apart on work requirements for food aid -

Biden’s optimism, in comments to reporters as he left the White House on Friday evening, came as the deadline for a potentially catastrophic default was pushed back to June 5 and seemed likely to drag negotiations between the White House and Republicans over raising the debt ceiling into another frustrating week.

Even as they came closer to a framework on spending, each side seemed dug in on the work requirements. White House spokesman Andrew Bates called the GOP proposals “cruel and senseless” and said Biden and Democrats would stand against them. Biden and McCarthy, R-Calif., have seemed to be narrowing on a two-year budget-slashing deal that would also extend the debt limit into 2025 past the next presidential election. The contours of the deal have been taking shape to cut spending for 2024 and impose a 1% cap on spending growth for 2025.

The Republican proposal would save $11 billion over 10 years by raising the maximum age for existing standards that require able-bodied adults who do not live with dependents to work or attend training programs. While current law applies those standards to recipients under the age of 50, the Republican plan would raise the age to include adults 55 and under. It would also decrease the number of exemptions that states can grant to some recipients subject to those requirements.

House Republicans have now pushed the issue to the brink, displaying risky political bravado in leaving town for the Memorial Day holiday. Lawmakers are not expected to return to work before Tuesday, at the earliest, and McCarthy has promised lawmakers he will abide by the rule to post any bill for 72 hours before voting.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 235. in LOANS

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.

Biden says debt deal 'very close' even as two sides far apart on work requirementsBoth sides have suggested one of the main holdups is a GOP effort to boost work requirements for recipients of food stamps and other federal aid programs, a longtime Republican goal Democrats have strenuously opposed.
Source: WEWS - 🏆 323. / 59 Read more »

Biden, McCarthy looking to close US debt ceiling deal for two yearsThe White House and congressional Republicans on Friday are putting the final touches on a deal that will raise the U.S. government's $31.4 trillion debt ceiling for two years while capping spending on everything but military and veterans, according to a U.S. official.
Source: Reuters - 🏆 2. / 97 Read more »

Biden, McCarthy looking to close US debt ceiling deal for two years By Reuters*BIDEN, MCCARTHY LOOKING TO CLOSE U.S. DEBT CEILING DEAL FOR TWO YEARS 🇺🇸🇺🇸
Source: Investingcom - 🏆 450. / 53 Read more »

Biden Says Debt-Ceiling Deal Is ‘Very Close’Negotiators were closing in on a deal to cut spending and raise the $31.4 trillion debt limit, with President Biden saying talks are “very close” to reaching an agreement and that he was hopeful that there could be a breakthrough as soon as later Friday
Source: WSJ - 🏆 98. / 63 Read more »

Biden says debt default deal 'very close' while deadline now set at June 5An upbeat President Joe Biden says a deal to resolve the government’s debt ceiling crisis seems “very close.' He spoke late Friday, shortly after Treasury Secretary Janet Yellen pushed the deadline for a potentially catastrophic default back to June 5, an announcement that at first seemed likely to drag negotiations between the White House and Republicans into another frustrating week. House Republicans led by Speaker Kevin McCarthy spent the day negotiating by phone and computers with the White House. Biden said he would know by midnight whether there was a deal in the offing.
Source: AP - 🏆 728. / 51 Read more »

‘Optimistic’ Biden leaves DC for weekend despite debt-ceiling criticism, but says deal ‘close’The president left town despite some fellow Democrats fuming about his inaction in budget talks.
Source: nypost - 🏆 91. / 67 Read more »