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Search resuls for: "Trevor Hunnicutt David Morgan"


4 mentions found


☆ Analysis: Biden travel, Congress recess to squeeze debt limit timeline even more
  + stars: | 2023-05-02 | by ( Trevor Hunnicutt David Morgan | Trevor Hunnicutt | David Morgan | ) www.reuters.com   time to read: +3 min
WASHINGTON, May 2 (Reuters) - For months, the U.S. crisis over the debt limit has been a political abstraction. That's the length of time in which the House, Senate and the president are all physically in Washington, D.C. in May. There, Biden plans to "stress that Congress must take action to avoid default without conditions," a White House official said. After that ends on May 21, he will attend the May 24 meeting of the Quad Leaders’ Summit in Sydney, Australia, the White House said. Late on Monday, Schumer worked to fast-track a "clean" two-year debt limit suspension, so that it can come more quickly to the Senate floor for a vote.
☆ US may default June 1 without debt ceiling hike; Biden calls McCarthy to meet
  + stars: | 2023-05-01 | by ( David Lawder Andrea Shalal Trevor Hunnicutt David Morgan | David Lawder | Andrea Shalal | ) www.reuters.com   time to read: +5 min
House Republicans passed a bill to raise the debt limit last week that includes steep spending cuts which the Democratic-controlled Senate and Biden say they will not approve. Biden has steadfastly said he will not negotiate over the debt ceiling increase, but will discuss budget cuts after a new limit is passed. In 2011, a similar debt ceiling fight took the country to the brink of default and prompted a downgrade of the country's top-notch credit rating. The Republican bill would implement $4.5 trillion in spending cuts - or about 22% - in exchange for a $1.5 trillion increase in the U.S. debt limit. It has no chance of passing the Democrat-controlled Senate and the White House has said Biden would veto the legislation.
☆ Biden-McCarthy meeting on debt ceiling tests divided Washington rule
  + stars: | 2023-02-01 | by ( Trevor Hunnicutt David Morgan | Trevor Hunnicutt | David Morgan | ) www.reuters.com   time to read: +4 min
[1/3] U.S. House Speaker Kevin McCarthy meets with Jordan's King Abdullah II at the U.S. Capitol building in Washington, U.S., January 31, 2023. REUTERS/Leah MillisWASHINGTON, Feb 1 (Reuters) - President Joe Biden and Republican House Speaker Kevin McCarthy meet on Wednesday to discuss the $31.4 trillion U.S. debt ceiling, a first test of how the two leaders will work together, or not, in a divided Washington. House Republicans want to use the debt ceiling as leverage to exact cuts in spending by the federal government, though they have yet to unite around any specific plan. The White House says it will discuss future federal spending cuts with Republicans, but only after the debt ceiling is lifted. The 2011 crisis was resolved with a bipartisan deal that cut spending and raised the debt limit but left Obama administration officials smarting.
☆ Biden White House, McCarthy dig in ahead of debt meeting
  + stars: | 2023-01-31 | by ( Trevor Hunnicutt David Morgan | Trevor Hunnicutt | David Morgan | ) www.reuters.com   time to read: +5 min
[1/2] U.S. President Joe Biden speaks to the media after his arrival to the White House in Washington, U.S., January 30, 2023. The White House says it will only discuss future spending cuts after the debt ceiling is raised. Biden will call on McCarthy to release a budget plan in the meeting and to commit to support the nation's debt obligations, according to a White House memo seen by Reuters. The White House has said it would release its budget proposal on March 9. House Republicans, meanwhile, will aim to produce their budget proposal in April, said House Republican Leader Steve Scalise.
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