national debt
U.S. Senate sends Biden debt limit legislation ahead of Monday default deadline
WASHINGTON — The bipartisan debt limit bill is on its way to President Joe Biden after the U.S. Senate voted Thursday to clear the measure for his signature. The 63-36 vote followed several amendment votes, all of which were rejected. Biden is expected to quickly sign the package, preventing a default on the debt that […]
U.S. House approves debt limit package, sending it to Senate days before default deadline
WASHINGTON — The U.S. House took a broadly bipartisan vote Wednesday night on the debt limit package, sending it to the U.S. Senate where lawmakers are expected to vote quickly to clear the measure. The bill would suspend the nation’s borrowing limit through Jan. 1, 2025 and set caps on discretionary spending for two years. […]
New work requirements for some SNAP recipients included in debt limit deal
WASHINGTON — The holiday weekend debt ceiling deal struck by President Joe Biden and House Speaker Kevin McCarthy preserves in part new work requirements for some food stamp recipients but now with exceptions for certain populations, including veterans. The agreement released late Saturday night showed concessions from both sides — from GOP members, who wanted […]
Debt limit deal hits turbulence in Congress as leaders prep for vote
WASHINGTON — Congress began moving the bipartisan debt limit package forward Tuesday, though frustrations with provisions in the bill could make for narrow passage in the U.S. House and U.S. Senate. Conservative Republicans and progressive Democrats both aired their disappointment with the agreement forged over the weekend, but only GOP lawmakers are looking to possibly […]
Biden, McCarthy say they have brokered a debt limit deal to avert U.S. default
WASHINGTON — House Speaker Kevin McCarthy announced a deal in principle Saturday night that would stave off a first-ever default on the nation’s debt as long as it can clear both chambers of Congress before June 5. The agreement would address the nation’s debt limit and include a “historic” reduction in spending, McCarthy said, though […]
Treasury secretary pinpoints June 5 as earliest date for U.S. debt default
WASHINGTON — Republicans in Congress and the Biden administration have until at least June 5 to broker and enact a debt limit bill under new estimates from the Treasury Department, giving negotiators a few more days before the country would default. “Based on the most recent available data, we now estimate that Treasury will have […]
With debt default as soon as a week away, U.S. House jets off for holiday break
WASHINGTON — U.S. House members walked down the steps of the Capitol building Thursday morning to head back to their districts for a Memorial Day recess that began exactly one week before the country could default on the debt. House Democrats took to the floor after the final vote of the week to give a […]
After years of bipartisan spending boosts, U.S. House GOP won’t lift debt ceiling without cuts
WASHINGTON — Republicans and Democrats in Congress together brokered dozens of debt limit agreements, including several during the past decade, marked by a desire in both political parties to increase federal spending. But U.S. House Republicans now are pushing for the federal government to spend less next year than it will this year in order […]
Progressives try to persuade Biden to use the 14th Amendment to resolve debt crisis
WASHINGTON — Progressives are pushing hard for President Joe Biden to take the unprecedented step of invoking the 14th Amendment as a way to avoid financial calamity if the White House and House Speaker Kevin McCarthy do not strike a deal on the debt ceiling in the coming days. The lawmakers and legal scholars argue […]
Biden and McCarthy strike positive tone after debt limit talks, but no deal yet
WASHINGTON — President Joe Biden and Speaker Kevin McCarthy left their closely watched meeting Monday without an agreement on government spending or the debt limit, prolonging a stalemate that could soon disrupt Americans’ everyday lives as well as the global economy. Both struck a positive tone Monday, though neither divulged details about what remains unresolved […]
GOP’s desired work requirements for federal aid would kick roughly 21M from anti-poverty programs
Congressional Republicans’ efforts to slash federal spending by tying work requirements to Medicaid and SNAP would have far-reaching consequences for people with mental health issues, chronic health problems, and some people with disabilities if enacted, policy experts on anti-poverty programs say. They say the work requirements as laid out by House Speaker Kevin McCarthy’s “Limit, […]
Biden says he’s offered $1 trillion in spending cuts but GOP won’t budge on debt limit
WASHINGTON — President Joe Biden said Sunday his administration has offered $1 trillion in spending cuts as part of the ongoing talks with Republicans around a budget agreement, but he said no deal has yet been reached. Biden, speaking from Japan during a press conference following the G7 summit, said his administration wants House Speaker […]