Key Points
ImagesHardline Republicans in the House of Representatives have threatened to block any bill that does not meet their expectations, including sharp spending cuts...
WASHINGTON: Democratic and Republican negotiators said they were hopeful of reaching a deal to raise the federal government's $31.4 trillion debt ceiling and avert a disastrous default, with talks expected to resume on Saturday...
The Treasury Department on Friday said the government would run short of funds to pay all its bills on June 5 without congressional action, a slightly later but firmer deadline than its prior forecast of default as early as June 1...
And any deal in principle between Democratic President Joe Biden and top congressional Republican Kevin McCarthy will be the start of what could easily be a week-long process of shepherding legislation through the narrowly and bitterly divided Congress.. s.. Progressive Democrats have also threatened to withhold support for some of the compromises raised, particularly around imposing new work requirements on federal anti-poverty programs...
Republicans have rejected Biden's proposed tax increases, and neither side has shown a willingness to take on the fast-growing health and retirement programs that will drive up debt sharply in the coming years...
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