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It was one the president deployed once again behind closed doors at the White House. With Memorial Day on the horizon, senior White House officials said protecting veterans’ benefits was a top priority. They also knew it was a sensitive issue for Republicans’ politically, especially as House Republicans parried White House allegations about cuts to veterans’ services. White House officials would engage in conversations where their Republican counterparts would outline a potential resolution on issues. For months, White House officials hoped – and to some degree based on past battles, expected – Senate Republican Leader Mitch McConnell would engage in finding a resolution.

Persons: Joe Biden, Biden, “, ” Biden, Kevin McCarthy, simmered, Steve Ricchetti, Louisa Terrell, Shalanda Young, reticence, Biden didn’t, McCarthy, ’ carveouts, Republicans ’, Republicans parried, ” Terrell, ”, ” Young, Jeff Zients, –, would’ve, that’s, ” Zients, ” Ricchetti, Patrick McHenry, Young, Michael Linden, Ricchetti, McCarthy’s, Mitch McConnell, Terrell, McHenry, Garret Graves, Graves, Dan Meyer, they’ve, “ There’s, you’re, cleaver Organizations: CNN, Resolute, Legislative, White, Republican, FBI, Republicans, Internal Revenue Service, SNAP, Congressional, Office, Progressive, Young, White House, GOP, Biden, Republican Rep, Congress, dropoff, Air Force Academy Locations: Washington, Garret Graves of Louisiana, McHenry, Louisiana, Ukraine, Colorado

☆ Maryland wanted to celebrate the War of 1812. It ended up advertising online gambling and virtual cockfights.
▼ + stars: | 2023-06-02 | by ( Jake Swearingen | ) www.businessinsider.com time to read: +3 min

A website on 800,000 Maryland license plates redirects to the 'Philippines' Best Betting Site.' There are 798,000 active War of 1812 license plates in the state, the Maryland Motor Vehicle Administration told Insider. The commemorative plates were the default for all license plates issued in Maryland between 2010 to 2016. Reddit user Samuel Zehr first noticed that the URL led to a gambling website after typing it into his phone on Memorial Day. "The gambling website was not at all what I was expecting," Zehr told The Washington Post.

Persons: Fort, John Lazarou, Lazarou, Samuel Zehr, Zehr Organizations: Morning, Globe, Maryland, Vehicle Administration, Motor Vehicle Administration, Star, Trail, Washington Post Locations: Maryland, Philippines, Fort McHenry, United States

☆ Crypto bill from Republicans lays out clear roles for SEC and CFTC
▼ + stars: | 2023-06-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

The bill proposes a clearer pathway for the registered offer and sale of digital assets. Crypto exchanges have been calling for regulatory clarity in the wake of expansive enforcement actions that have left companies and developers scrambling to move operations beyond the U.S. Crypto exchanges Coinbase and Gemini have both announced off-shore exchange operations. Coinbase also is engaged in a bruising courtroom battle with the SEC over the very issues that apparently prompted the McHenry-Thompson bill. The crypto exchange received a Wells notice, a warning of impending enforcement action, from the SEC earlier this year. The draft bill will likely be reshaped and modified in coming weeks and months, but it represents a powerful vote of support from two influential Republican members.

Persons: Patrick McHenry, Glenn Thompson, Coinbase, McHenry, Thompson Organizations: Republican, Financial Services, Futures, Securities, Exchange, SEC, Gemini Locations: North Carolina, Washington ,, R

☆ McCarthy's moment: Debt ceiling vote secures Republican US House speaker's standing
▼ + stars: | 2023-06-01 | by ( David Morgan | ) www.reuters.com time to read: +7 min

"Keep underestimating us and we'll keep proving to the American public that we'll never give up," McCarthy told reporters after the vote. But in getting the April measure passed, House Republicans became the only body in Washington that had acted to raise the debt ceiling. "Speaker McCarthy's done an incredible job," said Representative Marjorie Taylor Greene, a member of the hardline Republican House Freedom Caucus. "This is where the honeymoon can definitely end," said Republican strategist Ron Bonjean, a one-time aide to former House Speaker Dennis Hastert. Asked this week whether he expects to keep his speakership, McCarthy told a reporter: "What do you think?

Persons: Kevin McCarthy, Joe Biden, McCarthy, Biden, we'll, Dusty Johnson, haven't, Johnson, wouldn't, Donald Trump, Trump, Republican Mitch McConnell, McConnell, Rohit Kumar, Mitch McConnell, Julia Nikhinson, Shalanda Young, McCarthy's, Marjorie Taylor Greene, Patrick McHenry, Garret Graves, Ralph Norman, Norman, that's, John Boehner, Ron Bonjean, Dennis Hastert, I'm, Kelly Armstrong, David Morgan, Steve Holland, Gram Slattery, Jason Lange, Scott Malone, Suzanne Goldenberg Organizations: U.S . House, Republican, Democratic, Democrats, White House, Reuters, Republicans, House Republicans, U.S, Capitol, REUTERS, House, Caucus, White, Thomson Locations: Washington, Washington . U.S, U.S, Washington , U.S

☆ McCarthy's moment: Debt ceiling win secures Republican US House speaker's standing
▼ + stars: | 2023-06-01 | by ( David Morgan | ) www.reuters.com time to read: +7 min

But in getting the April measure passed, House Republicans became the only body in Washington that had acted to raise the debt ceiling. The White House, for its part, contends that the talks between Biden and McCarthy were not a negotiation on the debt ceiling. "Speaker McCarthy's done an incredible job," said Representative Marjorie Taylor Greene, a member of the hardline Republican House Freedom Caucus. "This is where the honeymoon can definitely end," said Republican strategist Ron Bonjean, a one-time aide to former House Speaker Dennis Hastert. Asked this week whether he expects to keep his speakership, McCarthy told a reporter: "What do you think?

Persons: Kevin McCarthy, Joe Biden, McCarthy, Biden, Dusty Johnson, haven't, Johnson, wouldn't, Donald Trump, Trump, Republican Mitch McConnell, McConnell, Rohit Kumar, Mitch McConnell, Shalanda Young, McCarthy's, Marjorie Taylor Greene, Patrick McHenry, Garret Graves, Ralph Norman, Norman, that's, John Boehner, Ron Bonjean, Dennis Hastert, I'm, Kelly Armstrong, David Morgan, Steve Holland, Jason Lange, Scott Malone, Suzanne Goldenberg Organizations: U.S . House, Republican, Democratic, Democrats, White House, Reuters, Republicans, House Republicans, House, Caucus, White, Thomson Locations: Washington

☆ Rep. Patrick McHenry on debt ceiling deal: We have the votes to pass this today
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Patrick McHenry on debt ceiling deal: We have the votes to pass this todayHouse Financial Services Committee Chairman Rep. Patrick McHenry (R-N.C.) joins 'Squawk Box' to discuss the latest on debt ceiling negotiations, and whether the tentative deal will be able to pass both the House and the Senate to avert a U.S. debt default.

Persons: Patrick McHenry Organizations: Financial Services, Senate

☆ Biden, McCarthy work to shore up support for debt ceiling bill ahead of House vote
▼ + stars: | 2023-05-31 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +2 min

WASHINGTON — House Speaker Kevin McCarthy and White House officials worked to shore up support for a bill that would raise the debt ceiling and cut government spending, as the House prepared to vote Wednesday night on the legislation. Large blocs of Democrats are also expected to vote against the bill, albeit more quietly. Raising the debt ceiling will require that the bill passes both the GOP-majority House and the Democratic-controlled Senate, a reality that made a compromise deal unavoidable. Rep. Pramila Jayapal, D-Wash., who chairs the Congressional Progressive Caucus, said Wednesday morning that she would vote against the bill on the House floor. Other groups, like the bipartisan Problem Solvers Caucus and the center-left New Democrat Coalition, have praised the bill.

Persons: Kevin McCarthy, Patrick McHenry, McCarthy, Joe Biden, Steve Ricchetti, Shalanda Young, Aviva Aron, Dine, John Podesta, Pramila Jayapal Organizations: WASHINGTON, White, Republican, GOP, CNBC, Democratic, Treasury Department, House Democrats, White House, Management, National Economic, Congressional Progressive Caucus, New Democrat Coalition

CNN —The House of Representatives is on track to vote Wednesday on a bill to suspend the nation’s debt limit through January 1, 2025, as lawmakers race to prevent a catastrophic default. The bipartisan debt limit deal struck between the White House and House Republicans was announced over the weekend – the culmination of long days and late nights of contentious negotiations that at times looked like they might breakdown and fall apart entirely. The effort to secure a debt limit deal has proven to be a major leadership test for both House Speaker Kevin McCarthy and Biden. Suspending the debt limit through 2025 takes the threat of default off table until after the presidential election. Before the House votes on final passage of the debt limit deal, the chamber must first vote to pass a rule setting parameters for floor debate.

Persons: Joe Biden, Chuck Schumer, Kevin McCarthy, Biden, –, McCarthy, “, ” McCarthy, Patrick McHenry Organizations: CNN, Senate, Treasury Department, White, House Republicans, Capitol, GOP, Democratic, Congressional, CBO

☆ Inside a debt ceiling standoff ‘far more dangerous than people will recognize’
▼ + stars: | 2023-05-31 | by ( Jeremy Diamond Lauren Fox Melanie Zanona Phil Mattingly Arlette Saenz Kevin Liptak | Jeremy Diamond | Lauren Fox | ) edition.cnn.com time to read: +17 min

“She’s well respected by both sides,” McCarthy said of the former longtime House Appropriations Committee staffer, according to White House officials. “Asking me about the communication (with the White House) implies there was communication,” one House Democrat said. For the White House negotiators, that meant late nights and early mornings. The White House negotiators left Capitol Hill abruptly and for hours, it was unclear when the conversations would resume. Quietly, White House negotiators had never actually stopped talking to their Republican counterparts.

Persons: Joe Biden, Kevin McCarthy, McCarthy, “, “ You’ve, ” Rep, Patrick McHenry, Biden, Steve Ricchetti, Shalanda Young, Louisa Terrell, ” McCarthy, James S, Alex Wong, Young, Garret Graves, ” Graves, Graves, Tom Cole of, ” Cole, White, Jeff Zients, McHenry, ‘, Chuck Schumer, Hakeem Jeffries, Ricchetti, ”, ” Terrell, Dan Meyer, –, apprised, decamping, ’, Anna Moneymaker, nonstarters, ” McHenry, McHenry –, —, Susan Walsh, businesslike, Biden’s, Eisenhower, Zients, Jose Luis Magana, Young –, Louisianans –, Jim Clyburn, Clyburn, Annie Kuster, ” Kuster, wasn’t, ” Young Organizations: CNN, White, ”, Republican, Legislative, Young, Management, Brady, Capitol, White House, GOP, McCarthy’s, Pennsylvania, Capitol Hill, U.S, Biden, Democrat, Democratic, Republicans, Building, Air Force, West Executive, LSU Tigers, South Carolina Democrat, New Democrat Coalition, Democrats Locations: Irish, Washington , DC, Louisiana, Tom Cole of Oklahoma, McHenry, Hiroshima, Japan, Washington

CNN —House Speaker Kevin McCarthy helped secure a debt limit deal – now he has to secure its passage in the House, with little room for error and a looming threat to his speakership. In a win for McCarthy, a key Republican said he expects to support a rule to set parameters for debate. The powerful House Rules Committee must still vote to adopt the rule, but with that anticipated support, it is now on track to do so — a hurdle that must be cleared before the bill can come to the House floor for a final vote. If he did not support the rule, the debt limit bill may have been unable to advance to the House floor. Roy and Norman have both emerged as leading critics of the bipartisan debt limit bill.

Persons: Kevin McCarthy, –, McCarthy, “, it’s, Thomas Massie, Massie, Chip Roy, Texas, Ralph Norman of, Carolina –, Roy, Norman, ” Massie, Glenn Beck, can’t, Jim Jordan, Ohio, he’s, McCarthy’s, ”, Patrick McHenry, ” McHenry, “ I’m, McHenry Organizations: CNN —, GOP, Treasury Department, CNN, Republican Locations: Kentucky, Carolina

☆ Biden and McCarthy's bumpy journey to a debt ceiling deal
▼ + stars: | 2023-05-29 | by ( Steve Holland | ) www.reuters.com time to read: +6 min

During months of tense exchanges over the U.S. debt ceiling, McCarthy has also taken some swipes at Biden. Arguing that Biden should meet him to discuss his demands for lifting the debt ceiling in March, McCarthy made fun of the 80-year-old president's advanced age. "I would bring lunch to the White House. But it also preserves much of Biden's Inflation Reduction Act and punts the next debt ceiling showdown into 2025, which Republicans hate. Although he initially called for the debt ceiling to be raised without negotiations, he ended up making compromises.

However just ahead of the expected call between Biden and McCarthy, Republican deal negotiator Patrick McHenry told reporters "major disagreement" remained between his party and Biden's Democrats. That's what we've offered with our approach to raising the debt ceiling, with work requirements for able bodied folks to get back in the workforce. The two sides have tentatively reached an agreement that would raise the debt ceiling by enough to cover the country's borrowing needs through the November 2024 presidential election. Republican Representative Dan Bishop reacted with anger to the idea of extending the debt ceiling through the next presidential election. A failure by Congress to raise its self-imposed debt ceiling before June 5 could trigger a default that would shake financial markets and send the United States into a deep recession.

"Things are looking good," Biden told reporters. "I'm hopeful," said McHenry, one of House of Representatives Speaker Kevin McCarthy's lead negotiators with the White House. Negotiators are discussing a deal that would lift the limit for two years, but remain at odds over whether to stiffen work requirements for some anti-poverty programs. WORK REQUIREMENTS IN DISPUTEThe safety-net programs remained a sticking point. Biden in particular has resisted the work requirements for Medicaid, which covered 85 million Americans as of January.

President Biden and Speaker Kevin McCarthy spoke by telephone on Saturday evening as White House and congressional Republicans worked feverishly to cement a deal to raise the nation’s debt ceiling and avert a fiscal crisis. The call took place after Representative Patrick T. McHenry, Republican of North Carolina and one of the lead negotiators, told reporters on Capitol Hill earlier Saturday that the parties were either “hours or days” away from an agreement. Two people close to the talks who insisted on anonymity to discuss the state of play said the conversation between Mr. Biden and Mr. McCarthy — who have not spoken directly since they met at the White House six days ago — would determine whether a final agreement could be reached later Saturday or negotiations would have to continue. “Big, thorny issues remain — some that the president and the speaker have to resolve at that level,” said Mr. McHenry, who has been involved in negotiations for 11 days.

☆ White House and Republicans reach a tentative deal to avoid U.S. default
▼ + stars: | 2023-05-27 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +5 min

WASHINGTON — House Republicans reached a tentative deal with the White House on Saturday night to raise the nation's borrowing limit and avoid a catastrophic default on U.S. sovereign debt. "I expect to finish the writing of the bill, checking with the White House and speaking to the president again tomorrow afternoon," said the California Republican, "Then posting the text of it tomorrow, and then be voting on it on Wednesday." The White House has invited all House Democrats to attend a virtual briefing on Sunday afternoon, presumably to explain what is in the deal and urge Democrats to vote for it. Nonetheless, many Republicans have come to view the biennial vote to raise the debt limit as an opportunity to extract concessions from Democrats in exchange for their votes to avoid a debt default. Unless the debt limit were raised in time and the government was allowed to borrow more, "Our projected resources would be inadequate to satisfy all of these obligations."

WASHINGTON — Urgent talks to raise the U.S. debt ceiling appeared to move closer to a deal Thursday, with only seven days to go before the United States faces an imminent threat of debt default. But negotiators warned that the final phase of talks would likely be the most delicate and difficult for both sides. "We're at a sensitive phase, with sensitive issues that remain. "They've got work in the White House, we have work here in the Capitol. Read more: What Republicans want in exchange for raising the debt limitAt the White House, President Joe Biden sounded a cautiously optimistic note.

Persons: Garret Graves, Patrick McHenry, we've, McHenry, They've, Read, Joe Biden Organizations: Republicans, Capitol Hill Club, WASHINGTON, Republican, White House, White Locations: R, Washington, United States, North Carolina

☆ What Republicans want in exchange for raising the debt limit
▼ + stars: | 2023-05-25 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +4 min

Speaker of the House Kevin McCarthy, R-Calif., talks with reporters about the debt ceiling negotiations in the U.S. Capitol on Tuesday, May 23, 2023. "The debt ceiling," he replied. A Democratic official said Republicans have already rejected at least two compromise offers from the White House. While their demands could change, below are the key concessions Republicans want from Democrats, in exchange for their vote to raise the debt ceiling. "I'm not going to accept any work requirements that's going to impact on medical health needs of people," Biden said earlier this month.

Persons: Kevin McCarthy, Patrick McHenry, Garret Graves, Joe Biden, I'm, Biden Organizations: U.S, Capitol, White, White House, Republican, Democratic, Republicans, Energy, House Republicans, Congressional, House, Assistance, SNAP Locations: WASHINGTON, North Carolina, Louisiana, United States, .

☆ Republicans question June 1 debt ceiling deadline as talks zero in on potential trade-offs
▼ + stars: | 2023-05-23 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +4 min

Andrew Caballero-Reynolds | AFP | Getty ImagesWASHINGTON — A significant group of House Republicans raised questions Tuesday about whether the Treasury Department's June 1 deadline to avoid a potential U.S. debt default was accurate. "We'd like to see more transparency on how they come to that date," House Majority Leader Rep. Steve Scalise said Tuesday at a news conference. "We're getting closer," McCarthy told reporters late Monday, adding that the "circle" of issues was becoming "smaller, smaller, smaller." A Republican negotiator, Rep. Patrick McHenry, N.C., told reporters that spending was still the biggest hurdle to an agreement. Rep. Garret Graves, R-La., left, and Rep. Patrick McHenry, R-N.C., speak to reporters about debt ceiling negotiations as they leave the House Republicans' caucus meeting at the Capitol Hill Club in Washington, May 23, 2023.

Persons: Kevin McCarthy, Joe Biden, Andrew Caballero, Reynolds, Steve Scalise, Scalise, Janet Yellen's, Nathan Howard, Biden, We're, McCarthy, Karine Jean, Pierre, Jean, Pierre said, Katherine Clark, Elise Stefanik, Patrick McHenry, Garret Graves, Bill Clark Organizations: White, AFP, Getty Images WASHINGTON, House Republicans, Treasury, Republican, Bloomberg, Getty, CNBC, US, Democratic, Courage for America, Capitol, Getty Images House Republicans, Rep, Republicans, Capitol Hill Club, CQ, Inc Locations: Washington ,, United States, California, Washington , DC, U.S, N.C, R, Washington

☆ US economy on the brink as time runs low to avert debt default
▼ + stars: | 2023-05-22 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

After a weekend of acrimony between negotiators for House Republicans and the White House, Biden will meet House Speaker Kevin McCarthy Monday for critical talks on pulling the economy back from the precipice. Biden and McCarthy to meet MondayThe rhetoric eased a little, however, after Biden and McCarthy spoke as the president flew home on Air Force One. McCarthy already passed a bill raising the debt ceiling in exchange for a wish list of Republican demands. This is a balance of power that ought to drive both sides towards a compromise, but extremist elements in the House GOP could make that impossible. Like McCarthy, Biden also faces political pressure within his own party after some progressive Democrats expressed fears he would offer the speaker too much in any deal.

Biden said he would speak to top congressional Republican Kevin McCarthy on his flight home and hoped the speaker of the House of Representatives had been waiting to negotiate with Biden directly. "Much of what they've already proposed is simply, quite frankly, unacceptable," Biden said. The source also said House Republicans wanted to extend tax cuts passed under then-President Donald Trump, which would add $3.5 trillion to the federal debt. SPENDING CUTSBiden heads back to Washington on Sunday after truncating his Asia trip to focus on the debt ceiling talks. Biden stressed that he was open to making spending cuts and said he was not concerned they would lead to a recession, but he could not agree to Republican demands.

When asked what message he would share with McCarthy, he declined to comment before talking with McCarthy first. The source also said House Republicans wanted to extend tax cuts passed under then-President Donald Trump, which would add $3.5 trillion to the federal debt. White House officials said they were expecting the call between Biden and McCarthy to take place as Biden flew home on Air Force One from the summit in Hiroshima. Biden heads back to Washington on Sunday after truncating his Asia trip to focus on the debt limit talks. Congressional Republicans voted to raise the debt ceiling three times, with no budget cut pre-conditions, when Republican Trump was in the White House.

☆ Biden, House Speaker McCarthy could speak Sunday on debt limit
▼ + stars: | 2023-05-21 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +3 min

HIROSHIMA, Japan, May 21 (Reuters) - U.S. President Joe Biden and top congressional Republican Kevin McCarthy could speak as soon as Sunday in talks over raising the federal $31.4 trillion debt ceiling. Biden will be headed back to Washington on Sunday after cutting his trip to Asia short to focus on the debt limit talks. The Republican-led House last month passed legislation would cut a wide swath of government spending by 8% next year. The source also said House Republicans want to extend tax cuts passed under former President Donald Trump, which would add $3.5 trillion to the federal debt. Congressional Republicans voted to raise the debt ceiling three times, with no budget cut pre-conditions, when Republican President Donald Trump was in the White House.

"Unfortunately, the White House moved backwards," McCarthy said, adding that the "socialist wing" of the Democratic Party appeared to be in control. McCarthy's office did not immediately respond to a request for comment on the White House statement. Democratic President Biden’s proposed 2024 budget and Republicans’ ‘Limit, Save, Grow’ Act will both generate budget savings over a decade, but how they will do so is starkly different. The source also said House Republicans want to extend tax cuts passed under former President Donald Trump, which would add $3.5 trillion to the federal debt. Congressional Republicans voted to raise the debt ceiling three times, with no budget cut pre-conditions, when Republican President Donald Trump was in the White House.

WASHINGTON, May 19 (Reuters) - A second meeting on Friday between White House and Republican congressional negotiators on raising the federal government's $31.4 trillion debt ceiling broke up with no progress cited by either side and no additional meeting set. Senior White House adviser Steve Ricchetti left the meeting room telling reporters that he was "not assessing" the talks. A meeting earlier on Friday ended abruptly with McCarthy telling reporters there had not been any "movement" from the White House toward Republican demands. Biden and McCarthy spent most of the year in an impasse with the White House insisting on a "clean" increase in the debt ceiling without conditions. They agreed to two-way talks, with the White House represented by Shalanda Young, director of the Office of Management and Budget, and Ricchetti.

WASHINGTON, May 19 (Reuters) - A second meeting on Friday between White House and Republican congressional negotiators on raising the federal government's $31.4 trillion debt ceiling broke up with no progress cited by either side and no additional meeting set. "We had a very, very candid discussion talking about where we are, talking about where things need to be," Republican Representative Garret Graves told reporters following a brief meeting in the Capitol with White House officials. He echoed earlier remarks by House of Representatives Speaker Kevin McCarthy that progress needed to be made on changing the "trajectory" of U.S. government deficit spending. A second Republican negotiator, Representative Patrick McHenry, said McCarthy would be briefed on the status of the talks. Senior White House adviser Steve Ricchetti left the meeting room telling reporters that he was "not assessing" the talks.

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