GOP lawmakers are holding tight to demands for sharp spending cuts, rejecting the alternatives proposed by the White House for reducing deficits.
The clock is ticking toward June 1, the day the US government runs out of money. President Biden, speaking at the G7 summit in Japan, said he believes Democrats and Republicans will reach a deal before the ominous deadline.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 catastrophic default only on their terms.Biden planned to call U.S.
"I’m hoping that Speaker McCarthy is just waiting to negotiate with me when I get home," he said. "I’m waiting to find out." Republicans want work requirements on the Medicaid health care program, though the Biden administration has countered that millions of people could lose coverage. The GOP also introduced new cuts to food aid by restricting states’ ability to waive work requirements in places with high joblessness. That idea, when floated under President Donald Trump, was estimated to cause 700,000 people to lose their food benefits.
Republicans had also rejected White House proposals to raise revenues in order to further lower deficits. Among the proposals the GOP objects to are policies that would enable Medicare to pay less for prescription drugs and the closing of a dozen tax loopholes. Republicans have refused to roll back the Trump-era tax breaks on corporations and wealthy households as Biden’s own budget has proposed.
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GOP negotiator says it’s time to ‘press pause’ on debt limit talks with White HousePresident Joe Biden’s administration is racing to strike a deal with Republicans led by McCarthy as the nation careens toward a potentially catastrophic debt default if the government fails to increase the borrowing limit to keep paying the nation’s bills.
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House GOP budget chair says ‘We’ve done our job,’ as debt ceiling talks crumbleHouse Budget Committee Chairman Jodey Arrington said Sunday the ball is in President Biden’s court when it comes to raising the debt ceiling and avoiding default amid broken-down negotiations.
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