debt limit

WASHINGTON (AP) — President Joe Biden and House Speaker Kevin McCarthy have reached an agreement in principle on legislation to increase the nation’s borrowing authority and avoid a federal default.Negotiators are now racing to finalize the…

Debt limit dealmakers face a central dilemma that will be hard to finesse: finding spending levels for next year that allow Republicans to claim they cut spending and, at the same, allow Democrats to say they did not.As the talks have…

The White House is looking at trading away part of a historic boost in Internal Revenue Service funding it won last year as part of President Joe Biden’s Inflation Reduction Act in order to seal a deal to raise the debt limit and avoid an…

WASHINGTON ― House Republicans are preparing a package of tax cuts they could take up soon after Congress gets finished with its debt ceiling crisis. Taking up the tax legislation would represent a reversal of Republicans’ recent focus on…

WASHINGTON — Hard-line conservative Republicans are anxious about a possible deal between House Speaker Kevin McCarthy (R-Calif.) and President Joe Biden that would avert a catastrophic debt default.The arrangement would raise the…

One Republican representative says Treasury Secretary Janet Yellen should be hauled before Congress to explain herself. Another accuses her of “narrative building.”Yellen’s alleged offense? Lying about whether the Treasury will be unable to…

House Speaker Kevin McCarthy (R-Calif.) said the latest meeting with the White House over the need to raise the limit on how much the government can borrow was productive, even as he was pressed to point to specific signs of progress.“We’re…

HIROSHIMA, Japan (AP) — President Joe Biden said Sunday that Republicans in the U.S. House must move off their "extreme positions" on the now-stalled talks over raising America's debt limit and that there would be no agreement to avert a…

Throughout the on-and-off negotiations over whether to raise the debt limit, congressional Republicans have touted one idea as the solution to controlling government spending: annual caps on what the government can spend on day-to-day…

Rep. Alexandria Ocasio-Cortez (D-N.Y.) on Thursday said invoking the 14th Amendment to raise the debt ceiling “should be on the table” for President Joe Biden as he continues negotiating with Republicans to prevent a default on the nation’s…