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Tester entered the Senate after selling Montana voters on his authenticity, and the former high school band teacher's message hasn’t changed much. Tester chairs the Senate Veterans’ Affairs Committee. “I take my cues directly from the veterans of this state,” Tester told the assembly at Bigfork High School. There’s been an influx of newcomers from Arizona, Washington state, California and Texas. He currently ranks second with $407,000 in contributions from lobbyists, putting him just behind Washington state Democratic Sen. Maria Cantwell, according to the research group OpenSecrets.

Persons: Jon Tester, Tester, Republican Donald Trump, hasn’t, you’ve, He's, ”, “ It’s, West Virginia Democratic Sen, Joe Manchin's, Mitch McConnell, Tim Sheehy, Matt Rosendale, Kevin McCarthy of, Trump, he’s, Israel, Noah Sohl, Lockheed Martin, Sohl, “, ” Sohl, ‘ I’m, I’m, ” Tester, Terry Baker, Baker, “ He’s, There’s, that's, Sid Daoud, Sen, Conrad Burns, ” Jack Abramoff, Abramoff, Burns, Democratic Sen, Maria Cantwell, he's, Big Sandy, Sharla Organizations: U.S . Senate, Veterans, Bigfork, Democrat, Republican, Montana, West Virginia Democratic, Montana , U.S . Navy, U.S . Rep, Democratic, Lockheed, . Census, Veterans ’ Affairs, Bigfork High, Senate, Republicans, Montana Libertarian, Washington Locations: Mont, U.S, Montana, Bigfork, Flathead, Washington, Pacific, Ky, Montana , U.S, Kevin McCarthy of California, Rosendale, Butte, Israel, Missoula, Vietnam, Kalispell, ” Montana, Arizona, California, Texas, Bozeman, Iraq, Big

The Senate, which Democrats control 51-49, has also been struggling to pass bills funding the government through Sept. 30, adding to calls for a stopgap "continuing resolution" to avert a shutdown. Further complicating matters is a Republican majority so narrow that House Speaker Mike Johnson can afford to lose no more than four party votes on legislation Democrats oppose. "He hasn't decided how that would be structured - if that would happen," House Majority Leader Steve Scalise, the No. 2 Republican, told reporters in the U.S. Capitol on Friday. The House passed two of three Republican spending bills on their agenda last week, covering congressional operations and the environment.

Persons: Leah Millis, We've, Tom Cole, Hakeem Jeffries, Jeffries, Mike Johnson, Jeff Lewis, Johnson, Kevin McCarthy, hasn't, Steve Scalise, Frank Lucas, Jason Lange, David Morgan, Richard Cowan, Scott Malone, Jonathan Oatis Organizations: U.S . Capitol, REUTERS, Rights, U.S, Congress, Republicans, Democratic, House Democratic, Republican, Caucus, University of California, Capitol, Fox News Sunday, Reuters, Thomson Locations: Washington , U.S, Los Angeles

Clouds float above the U.S. Capitol, while inside the building, House Republicans search for a new Speaker of the House following the ouster of Kevin McCarthy, in Washington, U.S., October 5, 2023. In their first gathering since McCarthy's ouster, House Republicans were due to meet on Monday evening. There could be a House floor vote to elect a replacement for McCarthy later in the week. 2 House Republican, and Jim Jordan, a leader of the party's conservative wing, are campaigning to succeed McCarthy, but neither candidate has the election sewn up. Eight Republicans on Oct. 3 joined all House Democrats in a vote to remove McCarthy as speaker, the first time in history that the House removed its leader.

Persons: Kevin McCarthy, Kevin Lamarque, Republican Kevin McCarthy, McCarthy, Hugh Hewitt, " McCarthy, Steve Scalise, Jim Jordan, Kevin Hern, Richard Cowan, Katharine Jackson, David Morgan, Scott Malone, Grant McCool 私 Organizations: U.S . Capitol, Republicans, REUTERS, Rights, Republican, Palestinian, Hamas, California Republican, House Democrats Locations: Washington , U.S, Israel, California

☆ Matt Gaetz says it will 'absolutely' be worth it if he loses his congressional seat after leading the push to remove Kevin McCarthy as speaker
▼ + stars: | 2023-10-08 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Rep. Gaetz on Sunday seemingly has no regrets after leading the push to oust McCarthy as speaker. Gaetz told NBC's Kristen Welker it would "absolutely" be worth it if he lost his seat over the vote. He had a much more favorable view of Steve Scalise and Jim Jordan, who are both running to succeed McCarthy. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . EXCLUSIVE: Rep. Matt Gaetz (R-Fla.) responds to reports of Republican colleagues seeking to kick him out of Congress.

Persons: Gaetz, McCarthy, NBC's Kristen Welker, Steve Scalise, Jim Jordan, —, Matt Gaetz's, Kevin McCarthy, Kristen Welker, Matt Gaetz, Welker, Ohio — Organizations: Service, Press, Florida Panhandle, House Republican Conference Locations: California, America, Louisiana, Jordan

☆ US readies new Ukraine arms package despite tumult in Congress
▼ + stars: | 2023-10-06 | by ( Mike Stone | ) www.reuters.com time to read: +3 min

Commander of the Joint Forces of the Armed Forces of Ukraine Serhiy Nayev fires an American Browning M2 machine gun during a military exercise, amid Russia's attack on Ukraine, in Kyiv region, Ukraine September 27, 2023. Those funds have allowed the Biden administration to send Kyiv arms, supplies and munitions despite the exclusion of new Ukraine aid from a stopgap spending bill passed by the House of Representatives last weekend to prevent a government shutdown. Biden has vowed to replenish stocks of arms sent to Ukraine. The Biden administration is also considering using a State Department grant program to send Ukraine additional military aid, a U.S. official said. Democrats, who strongly support aid to Ukraine, insist that Congress will back continued assistance.

Persons: Ukraine Serhiy Nayev, Gleb Garanich, Biden, congressionally, Lockheed Martin, Kevin McCarthy, Mitch McConnell, Mike Stone, Rami Ayyub Organizations: Joint Forces of, Armed Forces, REUTERS, Rights, Pentagon, Kyiv, Republicans, Ukraine Defense Contact, of Defense, General Dynamics, State Department, U.S, Republican, Thomson Locations: Ukraine, American, Kyiv region, Brussels, U.S

☆ Wall Street sees the market's bumpy ride continuing in the 4th quarter. Here are the risks in store
▼ + stars: | 2023-10-05 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Many investors expect that could be the capitulation event equities need to bottom out before rebounding. "If you get down to five and a quarter all hell's gonna break loose," Rob Ginsberg, managing director at Wolfe Research. The yield on the 10-year Treasury has spiked sharply to about 4.8% this week, about 1 whole percentage point above where it was in mid-July at around 3.7%. In fact, it won't take much for the positive narrative to start to take hold in markets, Hogan said. Hogan anticipates the S & P 500 could rise to 4,800 by year end, about 13% above where it is currently.

Persons: Rob Ginsberg, Fitch, Ray Dalio, Jamie Dimon, Wolfe Research's Ginsberg, Ginsberg doesn't, You'll, Ginsberg, Riley Financial's Art Hogan, they'll, Read, Hogan, Kevin McCarthy, Goldman Sachs, Jan Hatzius, Katie Stockton, Bank of America's Stephen Suttmeier, Jeffrey Hirsch, I'm, Hirsch Organizations: Dow Jones, Treasury, Wolfe Research, Federal Reserve, JPMorgan, CNBC Pro's, Supply, Bank of America's Locations: Saudi Arabia

☆ Who could succeed Republican Kevin McCarthy as speaker of the US House?
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +3 min

[1/2] Former Speaker of the House Kevin McCarthy (R-CA) speaks to reporters after he was ousted from the position of Speaker by a vote of the House of Representatives at the U.S. Capitol in Washington, U.S. October 3, 2023. 2 House Republican and has long been favored to take over the head of the Republican Party in the chamber after McCarthy's tenure ended. TOM EMMERRepresentative Tom Emmer is the House Republican whip and had headed the House Republicans' campaign arm during the 2022 midterm elections, when Republicans recaptured the House majority from President Joe Biden's Democrats. Chair of the House Financial Services Committee, McHenry is a McCarthy ally who spoke in support of McCarthy prior to the vote. KEVIN MCCARTHYRepresentative Kevin McCarthy told reporters on Tuesday he would not make another run for speaker.

Persons: Kevin McCarthy, Jonathan Ernst, McCarthy, STEVE SCALISE, Matt Gaetz, Steve Scalise, Scalise, Tom Emmer, Joe Biden's, JIM JORDAN, Jim Jordan, Donald Trump, BYRON DONALDS, Byron Donalds, PATRICK MCHENRY, Patrick McHenry, McHenry, DONALD TRUMP, Biden, Gaetz, Andy Ogles, Trump, HAKEEM JEFFRIES, Hakeem Jeffries, KEVIN MCCARTHY, Makini Brice, Scott Malone, Howard Goller Organizations: U.S, Capitol, REUTERS, U.S . House, Republican, Republican Party, TOM, Republicans, Committee, Financial Services, Trump, Democratic, Thomson Locations: Washington , U.S, U.S

☆ CNBC Daily Open: High rates are breaking something new in markets
▼ + stars: | 2023-10-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on July 18, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. House Speaker, mutedEight hardline conservative Republicans joined all Democrats to oust Republican Kevin McCarthy as speaker in a "motion to vacate" introduced by Republican Matt Gaetz. Patrick McHenry, a close McCarthy ally, will assume the role of speaker temporarily; McCarthy said he won't be running again.

Persons: Kospi, CBRE, Knight Frank, Republican Kevin McCarthy, Matt Gaetz, Patrick McHenry, McCarthy Organizations: New York Stock Exchange, CNBC, Dow Jones, Treasury, Nikkei, Reserve Bank of New Zealand, Japan's, U.S, Republicans, Democrats, Republican, Citi Locations: New York City, Asia, Pacific, Canada

☆ CNBC Daily Open: Something else is breaking in markets
▼ + stars: | 2023-10-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

A trader works on the floor of the New York Stock Exchange during opening bell in New York City on August 21, 2023. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. [PRO] Railed by ratesHigher-for-longer interest rates are really starting to hit markets hard. It's very broad swaths of the stock and bond markets that are seeing new 52-week lows, as CNBC Pro's Bob Pisani observes — and explains why they've been hitting troughs.

Persons: Dow, Republican Kevin McCarthy, Matt Gaetz, Patrick McHenry, McCarthy, Bob Pisani, —, they've Organizations: New York Stock Exchange, CNBC, Dow Jones, Treasury, U.S ., Intel, Solutions, House, U.S . House, Republican Locations: New York City

☆ What Kevin McCarthy's ousting as House Speaker means for markets
▼ + stars: | 2023-10-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

The ousting of Republican Kevin McCarthy as House Speaker may not have an immediate impact on Wall Street, but it raises the likelihood of a government shutdown in the fourth quarter — which could inject more volatility into an already rattled market. Now, Congress also grapples with deciding its next speaker to lead the House. "The immediate market impact of McCarthy's ouster is relatively limited as the government is funded through November 17," said BTIG's Isaac Boltansky. "The near-term concern is that the House's paralysis will further complicate the already complicated calculus surrounding the forthcoming funding fight." Impact on the defense sector The removal of McCarthy could have an impact on the defense sector.

Persons: Kevin McCarthy, Goldman Sachs, Jan Hatzius, Ray Dalio, Isaac Boltansky, McCarthy, Scott Deuschle, Lockheed Martin, Northrop Grumman, Deuschle, — CNBC's Michael Bloom Organizations: Deutsche Bank, Lockheed, General Dynamics, Huntington Ingalls Industries Locations: Ukraine

☆ Who were the 8 GOP members who voted to oust McCarthy?
▼ + stars: | 2023-10-03 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +2 min

For the first time in American history, the Speaker of the House has been voted out of office. GOP Rep. Matt Gaetz initiated the motion to oust fellow Republican Kevin McCarthy from the seat. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementFor the first time in American history the sitting Speaker of the House, California Republican Kevin McCarthy, has been voted out of office — and it took eight members of his own party to turn the tide against him. McCarthy has argued Gaetz's move was payback for Gaetz facing a House Committee inquiry into allegations of sexual misconduct and misuse of funds.

Persons: Matt Gaetz, Kevin McCarthy, Gaetz, —, California Republican Kevin McCarthy, McCarthy, Andy Biggs, Arizona Ken Buck, Colorado Tim Burchett, Tennessee Eli Crane, Arizona Matt Gaetz, Florida Bob Good, Virginia Nancy Mace, Carolina Matt Rosendale, Montana McCarthy, — Biggs, Crane, Gaetz's Organizations: GOP, Service, California Republican, Republican, Republicans, House Democrats Locations: California, Colorado, Tennessee, Arizona, Florida, Carolina, Montana, Rosendale

Republican Rep. Patrick McHenry, now the acting speaker, declared the House in recess until both parties can decide on a path forward. There is no obvious successor to lead the House Republican majority now that McCarthy has opted not to run for the job again. Immediately after the vote, McHenry, a close McCarthy ally, was named temporary speaker or speaker pro tempore. McCarthy turned over that private list to the House clerk in January when he was first elected speaker. Some members left the chamber Tuesday determined to renominate McCarthy and vote for him for speaker until it passes.

Persons: Kevin McCarthy, Matt Gaetz, McCarthy, Patrick McHenry, Here's, McHenry, Steve Scalise, Tom Emmer, Kevin Hern, Jim Jordan, Lisa Mascaro Organizations: WASHINGTON, Democrats, —, California Republican, Republican, North Carolina Republican, Committee, AP Locations: McHenry

☆ Stock futures are little changed after Dow turns negative for 2023: Live updates
▼ + stars: | 2023-10-03 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Stock futures are near flat Tuesday night following a tough session that dragged the Dow Jones Industrial Average into negative territory for 2023. S&P 500 futures and Nasdaq 100 futures were also both little changed. The moves follows a losing session on Wall Street after job openings data indicated the labor market is still strong and bond yields marched higher. That indication of continued strength in the labor market concerned investors hoping the Federal Reserve is near the end of its interest rate-hiking cycle. The labor market remains a focus of investors through the end of the week.

Persons: It's, Ross Mayfield, Baird, Dow Jones, Yung, Yu Ma, Kevin McCarthy Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Dow, BMO Wealth Management, Traders Locations: New York City, Washington

☆ Republican House Speaker McCarthy faces ouster threat for avoiding shutdown
▼ + stars: | 2023-10-01 | by ( David Morgan | ) www.reuters.com time to read: +4 min

The Republican-controlled House of Representatives voted 335-91 to adopt a 45-day stopgap measure hours before funding for federal agencies was set to expire. Republican Representative Andy Biggs, a leading hardliner, asked on the social platform X, formerly known as Twitter. Republican Representative Matt Gaetz, who has openly threatened such action, made clear what it would take days before the Saturday vote. Republican Representative Brian Fitzpatrick, who co-chairs the bipartisan Problem Solvers' Caucus, said bipartisanship itself would be the real issue in any vote on McCarthy's future. Some Democrats have suggested they could support McCarthy if an ouster attempt occurred at a turbulent time.

Persons: U.S . House Republican Kevin McCarthy, Joe Biden, Andy Biggs, McCarthy, Biggs, party's, Chuck Schumer, Nancy Pelosi, Kevin McCarthy, Ken Cedeno, Pelosi, Schumer, Bob Good, Matt Gaetz, Joe Biden's, Brian Fitzpatrick, bipartisanship, Fitzpatrick, Hakeem Jeffries, Jim McGovern, I'm, David Morgan, Scott Malone, Daniel Wallis 私 Organizations: U.S . House Republican, Republicans, Republican, Democratic, Twitter, Democrats, Biden, U.S, Capitol, REUTERS, Florida Republican, Voice Locations: Washington, Washington , U.S

☆ Republican House Speaker McCarthy Faces Ouster Threat for Avoiding Shutdown
▼ + stars: | 2023-09-30 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +4 min

The Democratic-led Senate later approved the same bill with bipartisan support and sent it to President Joe Biden to sign into law. Republican Representative Andy Biggs, a leading hardliner, asked on the social platform X, formerly known as Twitter. Republican Representative Matt Gaetz, who has openly threatened such action, made clear what it would take days before the Saturday vote. If Kevin McCarthy uses Democrat votes in the House of Representatives to advance Joe Biden's spending priorities, he cannot remain as the Republican speaker," the Florida Republican told the far-right channel Real America's Voice on Wednesday. Some Democrats have suggested they could support McCarthy if an ouster attempt occurred at a turbulent time.

Persons: David Morgan WASHINGTON, U.S . House Republican Kevin McCarthy, Joe Biden, Andy Biggs, McCarthy, Biggs, party's, Chuck Schumer, Nancy Pelosi, Kevin McCarthy, Pelosi, Schumer, Bob Good, Matt Gaetz, Joe Biden's, Brian Fitzpatrick, bipartisanship, Fitzpatrick, Hakeem Jeffries, Jim McGovern, I'm, David Morgan, Scott Malone, Daniel Wallis Organizations: U.S . House Republican, Republicans, Republican, Democratic, Twitter, Democrats, Biden, Florida Republican, Voice Locations: Washington

☆ Gold hovers near six-month low as markets brace for U.S. economic data
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: +2 min

Gold bars of different sizes lie in a safe on a table at the precious metals dealer Pro Aurum. Gold steadied on Thursday, although prices hovered near a six-month low hit in the previous session due to an elevated dollar and Treasury yields, with markets awaiting U.S. economic data for clues on the Federal Reserve's interest rate trajectory. Spot gold held its ground at $1,874.49 per ounce by 0435 GMT after shedding 1.4%, its biggest daily decline since July, on Wednesday. Data on Wednesday showed orders for long-lasting U.S. manufactured goods rose in August and business spending on equipment appeared to regain momentum. Higher rates raise the opportunity cost of holding bullion, which is priced in dollars and does not yield any interest.

Persons: Gold, Hugo Pascal, Neel Kashkari, Kevin McCarthy Organizations: Aurum, Treasury, Minneapolis Locations: ., U.S

☆ US shutdown looms: Top House Republican Kevin McCarthy faces crucial test
▼ + stars: | 2023-09-18 | by ( David Morgan | ) www.reuters.com time to read: +6 min

U.S. House Speaker Kevin McCarthy (R-CA) addresses the 5th annual Congressional Hackathon on Capitol Hill in Washington, U.S., September 14, 2023. But hardline activism on spending, policy and impeachment have split Republicans in the House and slowed the Senate's path forward on approving bipartisan spending legislation. House Democratic leader Hakeem Jeffries warned on Sunday that the situation amounts to a Republican "civil war." Unless the House can move forward on spending, Republican leaders say privately that they could be forced to move directly into negotiations with Senate Democrats on appropriations bills, circumventing hardliners. Other House Republicans fear that McCarthy's decision to open an impeachment inquiry of Biden could make it harder to gain cooperation on spending from Democrats.

Persons: Kevin McCarthy, Evelyn Hockstein, Joe Biden, brinkmanship, Fitch, Hakeem Jeffries, Tommy Tuberville, McCarthy, Biden, who's, Chip Roy, Patrick McHenry, Ralph Norman, Ken Buck, David Morgan, Richard Cowan, Scott Malone, Sandra Maler Organizations: REUTERS, Rights, ., Republican, U.S . Congress, Democratic, Senate, AAA, California Republican, Fox News, Department of Defense, House Republicans, White, Defense Department, Department of Veterans Affairs, Caucus, Moderate, Biden, Republicans, Washington Post, Thomson Locations: Washington , U.S, California

☆ US Senate races ahead of House on spending bills, aims to avoid gov't shutdown
▼ + stars: | 2023-09-05 | by ( Richard Cowan | ) www.reuters.com time to read: +6 min

Democrats and Republicans in the Senate Appropriations Committee have backed the 12 separate spending bills that would finance most government operations for fiscal 2024, while their House Appropriations Committee has been producing bills with only Republican support. Some hardline House Republicans have dismissed the risks of a government shutdown, saying it could be a cudgel for achieving deeper spending cuts to address the $31.4 trillion national debt. 'A PRETTY BIG MESS'Top Senate Republican Mitch McConnell has voted for every one of the 12 fiscal 2024 bills advanced by the Senate Appropriations Committee, as have nearly all of his fellow committee Republicans. Meanwhile, as some hardline House Republicans push for defense spending cuts instead of a buildup, there is pushback within their 222-member caucus. He was referring to a special House-Senate negotiating team that likely would be tasked with ironing out differences between House and Senate defense appropriations bills.

Persons: Kevin Wurm, Joe Biden's, Biden, Republican Kevin McCarthy, Chuck Schumer, McCarthy, Andrew Bates, William Hoagland, Senate Republican Mitch McConnell, McConnell, Tom Cole, we'll, Richard Cowan, Trevor Hunnicutt, Scott Malone, William Maclean Organizations: U.S, Capitol, REUTERS, Rights, Democrats, Senate, Republicans, Democratic, Republican, White, Center, Senate Republican, House Republicans, Thomson Locations: Washington , U.S, U.S, Ukraine, Kentucky

☆ Top US Senate Democrat Schumer warns against Republican 'brinkmanship' on spending
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

U.S. Senate Majority Leader Chuck Schumer speaks to reporters in the U.S. Capitol in Washington, U.S., June 13, 2023. "When the Senate returns next week, our focus will be on funding the government and preventing House Republican extremists from forcing a government shutdown." Republicans say sharp cuts in spending are needed to stem the nation's growing $31.4 trillion national debt. * There is disagreement within the House Republican caucus about the depth of the proposed cuts, with one moderate Republican likening them to a "root canal." * Goldman Sachs analysts said earlier this month that they view a shutdown as "more likely than not."

Persons: Chuck Schumer, Kevin Lamarque, Schumer, Republican Kevin McCarthy, Joe Biden, Goldman Sachs, Richard Cowan, Scott Malone, Daniel Wallis Organizations: U.S, Capitol, REUTERS, Rights, Senate, Republicans, Republican, Democratic, Thomson Locations: Washington , U.S, Washington

☆ Analysis: Can Biden's compromise strategy fix a divided US?
▼ + stars: | 2023-06-06 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +5 min

WASHINGTON, June 5 (Reuters) - The deal to end the United States' debt limit standoff was classic Joe Biden politics: eke out a narrow compromise from an ugly beginning and declare victory. "I know bipartisanship is hard, and unity is hard," Biden said during his first-ever Oval Office address on Friday. "No matter how tough our politics gets, we need to see each other not as adversaries, but as fellow Americans. In his first two years as president, Biden used Democratic majorities in the House of Representatives and the Senate to push through massive stimulus packages despite the protests of Republicans. Senate Minority leader Mitch McConnell said after the debt deal was struck that "divided government means negotiated deals - it means nobody gets everything they want."

Persons: Joe Biden, Republican Kevin McCarthy, Biden, Bishop Silvester Beaman, Mitch McConnell, Premilla Nadasen, Donald Trump’s, Matthew Dallek, Mitch Landrieu, Elon Musk, Ron DeSantis, he's, Landrieu, McCarthy, " McCarthy, Trump, Nikki Haley, Kamala Harris, Matt Bennett, Trevor Hunnicutt, Heather Timmons, Chizu Nomiyama Organizations: Republican, Senate, Democratic Party, Columbia University's Barnard College, George Washington University, Capitol, Biden, Elon, Tesla Inc, DeSantis, Thomson Locations: United States, America, Washington, Carolina, Lincoln

☆ Analysis: Can Biden's handshake to a gunfight strategy fix what ails the US?
▼ + stars: | 2023-06-05 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +5 min

Biden's pact with Republican Kevin McCarthy, who once voted to overturn the president's 2020 election win, became law on Saturday. Biden's own popularity has withered over the course of his term, with some Democrats pointing fingers at the very strategy he touts. "No matter how tough our politics gets, we need to see each other not as adversaries, but as fellow Americans. Deals with Senate minority leader Mitch McConnell and Senate swing-vote Joe Manchin on infrastructure, climate and guns reflect Biden's deal-making strategy over 50 years in politics. The brief peace in Washington after the deal may be short-lived, however, some political strategists warn.

Persons: Joe Biden, Republican Kevin McCarthy, bipartisanship, Biden, Bishop Silvester Beaman, Premilla Nadasen, Mitch McConnell, Joe Manchin, Matthew Dallek, Mitch Landrieu, Elon Musk, Ron DeSantis, he's, Landrieu, Matt Bennett, Trevor Hunnicutt, Heather Timmons, Chizu Organizations: Republican, Capitol, Columbia University's Barnard College, George Washington University, Biden, Elon, Tesla Inc, Trump, Thomson Locations: United States, Washington, America

WASHINGTON, June 2 (Reuters) - U.S. President Joe Biden declared a "crisis averted" on Friday in his first address from the White House's Oval Office, touting the passage of a bill to suspend the U.S. debt ceiling and avoid economic catastrophe. JIM WATSON/Pool via REUTERSRepublicans refused to increase the debt ceiling for months, asking Biden and Democrats to cut spending in the 2024 budget in return. The White House asked for a clean debt ceiling deal before starting negotiations. OVAL OFFICE ADDRESSU.S. presidents have generally reserved an address from the Oval Office for the most significant, and dramatic of events: the attacks of Sept. 11, 2001, for example, or the Challenger space shuttle explosion. The White House said Biden was making his remarks there because of the gravity of the situation had the debt ceiling not been raised.

Persons: Joe Biden, Biden, Republican Kevin McCarthy, McCarthy, Donald Trump, JIM WATSON, “, ” Biden, Fitch, Ronald Reagan, George W, Bush, Barack Obama, Jeff Mason, Trevor Hunnicutt, Heather Timmons, Alistair Bell, Diane Craft Organizations: White, Republican, Senate, REUTERS Republicans, Democrat, AAA, Challenger, Union, Capitol, Thomson Locations: Washington , DC, United States, Gulf

WASHINGTON, June 1 (Reuters) - The bipartisan debt-ceiling deal that could clear Congress as soon as Thursday would stave off an imminent U.S. default, but might deliver less budget savings than Republicans have hoped for, according to nonpartisan budget analysts. The agreement ensures that President Joe Biden will not have to grapple with another debt-ceiling showdown until after the November 2024 election. That is less than the $4.8 trillion Republicans had initially sought, but still the largest deficit-reduction package since a 2011 deal that emerged from a similar debt-ceiling showdown. That would put more $1 trillion of the deal's anticipated savings at risk, according to the Penn Wharton Budget Model, a research group. The deal increases spending on defense and veterans' care, even as it aims to clamp down on other discretionary programs.

Persons: Joe Biden, Kevin McCarthy, MacGuineas, Biden, Veronique de Rugy, George Mason University's, Penn Wharton, McCarthy, Emily Gee, Andy Sullivan, Scott Malone, Alistair Bell Organizations: Penn Wharton Budget, White, Internal, Service, Office, Republican, SNAP, Social Security, Center for American, Thomson Locations: U.S, Washington

☆ Debt deal sacrifices $140 bln return on investment
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +2 min

The budget deal agreed to by President Joe Biden and top congressional Republican Kevin McCarthy would move $20 billion away from the Internal Revenue Service over the next two years. The change shores up cash for other agencies, but projections suggest the IRS funding would’ve made a significant step toward closing the government’s $925 billion budget gap. Biden approved $80 billion of new cash for the IRS in 2021, arguing the funding would strengthen enforcement and increase revenue collected by Uncle Sam. The CBO estimated in 2021 that for every $1 increase to IRS funding the government would recoup $6.40 to $7.10. The $20 billion being diverted from the agency could therefore raise as much as $142 billion through 2031.

Persons: Joe Biden, Kevin McCarthy, would’ve, Biden, Uncle Sam, Ben Winck, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, U.S, Internal Revenue Service, Office, CBO, IRS, White, Twitter, Toyota, Lufthansa, Thomson Locations: Saudi, East, Italy

☆ Oil edges up after steep losses ahead of U.S. debt ceiling vote
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: +2 min

Oil storage tanks stand at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co., at night in Tuapse, Russia. Oil prices edged up on Wednesday after steep losses in the prior session, as market participants awaited an expected vote on a bipartisan deal to lift the $31.4 trillion U.S. debt ceiling. Traders were uncertain about whether the group will increase output cuts as a slump in prices weighs on the market. Saudi Arabian Energy Minister Abdulaziz bin Salman last week warned short-sellers betting oil prices would fall to "watch out" in a possible signal that OPEC+ may cut output. However, comments from Russian oil officials and sources, including Deputy Prime Minister Alexander Novak, indicate the world's third-largest oil producer is leaning toward leaving output unchanged.

Persons: Brent's, Kevin McCarthy, hardliner, Abdulaziz bin Salman, Alexander Novak Organizations: Rosneft Oil, Brent, U.S, West Texas, Republican, of, Petroleum, Traders, Saudi Arabian Energy, OPEC, Reuters Locations: Tuapse, Russia, U.S, OPEC, Saudi Arabia

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