![]() ![]() Opened the door to spending cuts, a central plank of Republicans’ House-passed bill. Signaled a willingness to claw back unspent Covid funding and consider overhauling permitting reform, two big asks by Republicans.ģ. All but publicly acknowledged that a “clean” debt ceiling increase - which they originally insisted on - is not going to happen (as evidenced by even engaging in negotiations with Republicans).Ģ. THE STEPBACK - It’s worth taking a moment to consider and weigh what each side has done to move toward the center in a bid to actually strike a deal.ġ. “The question is: Could it be done and invoked in time?" ( Worth flagging: Asked about the 14th Amendment this morning on “Meet the Press,” Yellen was very iffy: “It doesn’t seem like something that could be appropriately used in these circumstances given the legal uncertainty around it.”) "I think we have the authority,” he said. He also appeared to open the door to using the 14th Amendment to unilaterally raise the debt ceiling on his own, sans Congress - though he acknowledged that such an issue may not solve the problem since it could get mired in the courts while the nation defaults. Meanwhile in Japan, before Biden boarded a plane to return to Washington from the G-7, he said that he intended to call McCarthy to talk. “It seems as though wants default more than he wants a deal,” McCarthy said. In an interview today on Fox News’ “Sunday Morning Futures,” the speaker disputed the suggestion that Republicans are moving the goalposts.” “We have never offered something different than we talked about the entire time,” he said, pointing out that the White House, meanwhile, has gone wobbly on whether they would actually accept changes to work requirements. McCarthy’s office pushed back on that characterization, calling it “inaccurate” - though they declined to say which part specifically. This morning, Biden told reporters that the GOP needs to move off their “extreme positions.”Īdded the aforementioned source: “Just days after publicly acknowledging that any budget agreement would need the support of both parties, the Speaker’s team has taken a big step backward with a set of extreme partisan demands that doesn’t reflect any movement after days of negotiations and that they know will never pass both Houses of Congress.” The White House is not happy with the new GOP demands. Yet given what Republican negotiators are now countering, they’re far from that number. Vote-counters on the Hill believe that any eventual deal will need the backing of about 100 House Democrats since a number of conservatives will never support a compromise. The GOP’s dug-in position comes at the end of a week when both President JOE BIDEN and Speaker KEVIN McCARTHY acknowledged that a budget deal would have to be bipartisan. They’re also insisting on adding new immigration provisions from the GOP’s recently passed border bill - which, mind you, Republicans didn’t include in their own debt ceiling bill. INSIDE THE LATEST DEBT CEILING TALKS - With the nation charging ever closer to the brink of default and the X date less than two weeks away, congressional Republicans are expanding their demands to raise the debt ceiling, according to a source familiar with the talks who emailed us an update at about 1 a.m.Ĭongressional Republicans have not only rejected a new White House offer to essentially freeze domestic spending at FY2023 levels, they’re now demanding work requirements for SNAP recipients that are more rigid than those they originally proposed. Default Takes Economic Toll,” by NYT’s Lydia DePillis and Ben Casselman MOOD MUSIC - “Small businesses are beginning to panic about a government default,” by WaPo’s Abha Bhattarai … “Even Flirting With U.S. “It's hard to be absolutely certain about this, but my assessment is that the odds of reaching June 15th while being able to pay all of our bills is quite low.” “I think that that's a hard deadline,” Yellen said. YELLEN: JUNE 1 IS A ‘HARD DEADLINE’ - On NBC’s “Meet the Press” this morning, Treasury Secretary JANET YELLEN underscored the urgency of debt limit talks, reasserting that the so-called “X date” when the government can no longer pay its bills is likely June 1. ![]() Speaker Kevin McCarthy and congressional Republicans are raising their demands in the debt limit negotiations. ![]()
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