DIRS.INFO The most relevant business & tech news

☆ Congress and Washington wonder if Biden and McCarthy cut secret Ukraine funding deal
▼ + stars: | 2023-10-02 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +4 min

The suspicion is that Biden agreed to sign a stop-gap federal government funding deal that did not include Ukraine aid he wanted to provide, in exchange for McCarthy agreeing to hold a standalone vote on that aid later. Rep. Matt Gaetz, R-Fla., demanded during an angry speech Monday targeting his fellow Republican McCarthy on the House floor. McCarthy on Monday denied that there was a secret plan for Ukraine funding. "There's an overwhelming number of Republicans and Democrats in both the House and the Senate who support Ukraine," Biden said at the White House. A standalone vote on emergency Ukraine funding would likely pass the House, but only with the help of Democratic votes.

Persons: Matt Gaetz, Joe Biden, Kevin McCarthy, Biden, McCarthy, Republican McCarthy, McCarthy's, Washington, Karine Jean, Pierre, Jean, I'm, Matt Miller, Miller, Dmytro Kuleba, Kuleba, Amanda Macias, Emma Kinery Organizations: Rep, U.S, Capitol, WASHINGTON —, Washington buzzed, Republican, Ukraine, House, Congress, Democratic, Sunday, Democrats, White, House Republicans, Russia, Ukraine . State Department Locations: Washington, Ukraine, United States, U.S

☆ Top House Republican McCarthy to test narrow majority in shutdown fight
▼ + stars: | 2023-09-18 | by ( David Morgan | ) www.reuters.com time to read: +6 min

[1/6] U.S. House Speaker Kevin McCarthy (R-CA) speaks with reporters as he arrives for the day at the U.S. Capitol in Washington, U.S. September 18, 2023. Republicans hold a 221-212 majority in the House that leaves McCarthy with little room to maneuver as he contends with opposition to the spending legislation from a small group of hardline conservatives. "The Republican House is failing the American people again and pursuing a path of gamesmanship and circus," Republican Representative Victoria Spartz said in a statement. Senate Majority Leader Chuck Schumer, a Democrat, called the House Republican CR agreement "slapdash and reckless," adding that a bipartisan continuing resolution is "the only answer for avoiding a government shutdown." Unless the House can move forward on spending, Republican leaders said privately that they could be forced to move directly into negotiations with Senate Democrats on appropriations bills, circumventing hardliners.

Persons: Kevin McCarthy, Jonathan Ernst, Joe Biden, McCarthy, Fitch, Tommy Tuberville, Biden, Donald Trump, Matt Gaetz, Jack Smith, Trump, Victoria Spartz, Chuck Schumer, Chip Roy, Roy, Ralph Norman, David Morgan, Richard Cowan, Moira Warburton, Scott Malone, Sandra Maler, Will Dunham Organizations: ., U.S, Capitol, REUTERS, Rights, . House, Republican, Democratic, Senate, AAA, Democrat, Caucus, Thomson Locations: Washington , U.S, Mexico

☆ Top US House Republican McCarthy calls for Biden impeachment inquiry
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +4 min

[1/2] U.S. House Speaker Kevin McCarthy (R-CA) calls for an impeachment inquiry into U.S. President Joe Biden while delivering a statement on allegations surrounding President Biden and his son Hunter Biden, on Capitol Hill in Washington, U.S., September 12, 2023. Some lawmakers on the Republican right flank have said they would try to remove McCarthy as the leader of the House if he did not move ahead with an impeachment effort against Biden. "I am directing our House committees to open a formal impeachment inquiry into President Joe Biden," McCarthy told reporters. The White House has said there is no basis for an investigation and Biden has mocked Republicans over a possible impeachment. Any Biden impeachment effort would be unlikely to succeed.

Persons: Kevin McCarthy, Joe Biden, Biden, Hunter Biden, Elizabeth Frantz, Donald Trump, McCarthy, Hunter, substantiation, Trump, Richard Cowan, Makini Brice, David Morgan, Andy Sullivan, Will Dunham, Scott Malone Organizations: ., Capitol, REUTERS, Rights, Republican U.S . House, Democratic, Democrats, Republican, Trump, Republicans, Constitution, U.S, Thomson Locations: Washington , U.S, McCarthy's, U.S, Ukraine

☆ Top US Republican McCarthy ponders Biden impeachment probe
▼ + stars: | 2023-07-25 | by ( David Morgan | ) www.reuters.com time to read: +4 min

"What is happening right now are the committees of jurisdiction are continuing to investigate," House Speaker Kevin McCarthy told reporters. McCarthy spoke to reporters a day before Hunter Biden was expected to plead guilty to two misdemeanor charges of willfully failing to pay income taxes and to enter into an agreement that could avert a conviction on a gun-related charge. Among other allegations, Republicans claim that the Justice Department intervened to restrain the Hunter Biden probe, though the Trump-appointed prosecutor in that case has said he was not constrained. House Republicans have sought to defend Trump against allegations of wrongdoing by accusing Biden of "weaponizing" the Justice Department against the leading 2024 Republican White House candidate. "There is no evidence of Joe or Hunter Biden interfering with Ukrainian politics, and there never has been," Parnas said in a July 18 letter to the House Oversight Committee.

Persons: Joe Biden, Biden, Hunter Biden, Kevin McCarthy, Karine Jean, Pierre, He's, Jean, impeaching Biden, Donald Trump, McCarthy, Trump, REBUTS, David Weiss, Weiss, Lindsey Graham, Trump's, Lev Parnas, Rudy Giuliani, Joe, Parnas, David Morgan, Steve Holland, Scott Malone, Cynthia Osterman Organizations: Republican, U.S . Congress, Democratic, White, Justice Department, House Republicans, Trump, Republican White House, Internal Revenue, Department, New, New York City, Thomson Locations: Ukraine, New York, Ukrainian, American, Russian

McCarthy called the bill the "most conservative deal we've ever had." The pair, Representatives Chip Roy and Ralph Norman, said they may vote against it if it is not changed to their liking. "I think it's important to keep in mind the debt limit bill itself does not spend money," he wrote on Twitter. A successful vote there would set up a vote by the full House on Wednesday. The debt-ceiling standoff prompted ratings agencies to warn that they might downgrade U.S. debt, which underpins the global financial system.

Persons: Joe Biden, Kevin McCarthy, Calif, Jacquelyn Martin, McCarthy, we've, Chip Roy, Ralph Norman, Roy, MASSIE, Thomas Massie, Biden, Hakeem Jeffries, Jeffries, Republican Mike Lee, White, Moira Warburton, David Morgan, Richard Cowan, Gram Slattery, Andy Sullivan, Scott Malone, Matthew Lewis, Mark Porter Organizations: Capitol, WASHINGTON, Republican, Democratic, U.S . Treasury Department, Republicans, Twitter, Top, Internal Revenue Service, Thomson Locations: Washington

☆ Stocks rise on US debt ceiling deal but China drags
▼ + stars: | 2023-05-29 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

S&P 500 futures rose 0.3% while Nasdaq futures firmed 0.5%. After weeks of negotiations, congressional Republican McCarthy and Biden agreed on Saturday to avert an economically destabilising default by suspending the $31.4 trillion debt ceiling until 2025. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.2%, with falls in Chinese and Hong Kong shares offsetting gains seen elsewhere. U.S. shares rallied at the end of last week on hopes of a debt ceiling deal and bets on artificial intelligence firms. Elsewhere in the currency markets, the dollar index - a measure of the greenback against its major peers - was a touch lower at 104.17 as risk-sensitive currencies staged a rebound.

☆ Asian shares, US futures rise on debt ceiling deal
▼ + stars: | 2023-05-29 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

The positive news lifted S&P 500 futures 0.2% in Asia while Nasdaq futures firmed 0.4%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) gained 0.3%, after a 1.1% drop the previous week. Two-year yields hit a 2-1/2 month high of 4.6390% on Friday on markets bets of higher Federal Reserve rates for longer. U.S. shares rallied at the end of last week on hopes of a debt ceiling deal and on optimism about artificial intelligence. However, it is still not too far from a two month high hit on Friday.

☆ Explainer: Tax cuts, balanced budget: What's not in Republican McCarthy's debt plan?
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +4 min

Some House Republicans have called for balancing the budget within 10 years, but McCarthy's proposed cuts would almost certainly not hit that goal. McCarthy's plan would not repeal two tax hikes secured by Democrats in last year's Inflation Reduction Act: a 15% minimum tax on large corporations and a 1% excise tax on stock buybacks. It also does not try to make permanent the temporary individual tax cuts contained in the 2017 Republican tax-cut package that are due to expire in 2025. His former budget director, Russell Vought, called for cuts to housing, education and health programs in a proposal released earlier this year. McCarthy's plan would not repeal Obamacare, or roll back enhancements secured by Democrats in 2021 and 2022.

Failure to raise the debt ceiling would lead to default that would shake the U.S. and world economies. McCarthy said the package would lower spending by $4.5 trillion over the coming 10 years. Biden reiterated his position that Congress should raise the $31.4 trillion debt limit without conditions, as it did three times under his Republican predecessor, Donald Trump. POTENTIAL CONSEQUENCESThe nonpartisan Committee for a Responsible Federal Budget praised McCarthy's plan as a "realistic and extremely welcome first step." A lengthy 2011 standoff over the debt ceiling led to a first-ever downgrade of the federal government's credit rating, which rattled markets and raised borrowing costs.

☆ Republican McCarthy eyes $1.5 trln lift of US debt ceiling, spending cuts
▼ + stars: | 2023-04-19 | by ( Richard Cowan | ) www.reuters.com time to read: +4 min

McCarthy said they would serve as the basis for negotiations between the two parties over raising the $31.4 trillion debt limit in the coming months. The White House reiterated its position that Congress should raise the $31.4 trillion debt limit without conditions, as it did three times under Biden's Republican predecessor, Donald Trump. At an appearance outside Washington, Biden said Republicans were threatening to push the United States into a historic default that would shake the world economy. McCarthy leads a fractious caucus that includes a sizeable contingent of hardline members who want sharp spending cuts and dismiss the risks of failure to act on the debt ceiling. So far House Republicans have not produced a budget plan of their own, a move that Biden contends would be a necessary starting point for negotiations on spending.

☆ Republican McCarthy to unveil plan to lift US debt ceiling by $1.5 trln -sources
▼ + stars: | 2023-04-19 | by ( Richard Cowan | ) www.reuters.com time to read: +3 min

REUTERS/Amanda Andrade-Rhoades/File PhotoWASHINGTON, April 19 (Reuters) - U.S. House Speaker Kevin McCarthy on Wednesday plans to unveil a plan to raise the nation's debt ceiling by $1.5 trillion, two sources said, as Republicans dig in on a standoff with Democrats over the government's borrowing limit. A source who was briefed on McCarthy's proposal but not allowed to speak publicly, said the speaker would propose a $1.5 trillion increase in the limit. McCarthy leads a fractious caucus that holds a narrow 222-213 majority, including a sizeable contingent of hardline members who want sharp spending cuts and dismiss the risks of failure to act on the debt ceiling. Even if McCarthy's proposal were to pass the House, it would be unlikely to find support in the Democratic-controlled Senate. The nonpartisan Congressional Budget Office last month laid out a range of options to address the debt, which showed that higher tax collections would have significantly more impact than spending cuts.

☆ Republican McCarthy to unveil plan to lift US debt ceiling by $1.5 trln -source
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, April 19 (Reuters) - U.S. House Speaker Kevin McCarthy on Wednesday plans to unveil a plan to raise the nation's debt ceiling by $1.5 trillion, a source said, as Republicans dig in on a standoff with the White House over the government's borrowing limit. The source, who was briefed on McCarthy's proposal but not allowed to speak publicly, said the speaker would propose a $1.5 trillion increase in the limit. That could cover the government's needs until early next year, setting the stage for another debt ceiling fight in the final months of the 2024 presidential election campaign. McCarthy leads a fractious caucus that holds a narrow 222-213 majority, including a sizeable contingent of hardline members who want sharp spending cuts and dismiss the risks of failure to act on the debt ceiling. The nonpartisan Congressional Budget Office last month laid out a range of options to address the debt, which showed that higher tax collections would have significantly more impact than spending cuts.

☆ Factbox: What's in Republican McCarthy's debt-limit spending cut package
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +4 min

At that point, Congress would have to address the issue again, as the 2024 presidential campaign heats up. Those caps would effectively serve as spending cuts, as they would not keep up with projected inflation and population growth. Congress agreed to similar spending caps in 2011 during another debt-ceiling standoff, though it often did not adhere to them in the following years. CLAW BACK UNSPENT COVID-19 FUNDSThe plan would cancel the remaining pots of money from the $5.2 trillion Congress approved between 2020 and 2022 to fight COVID-19. According to the White House, the remaining money amounted to less than $80 billion in January and is likely lower now.

☆ Factbox: What's in Republican McCarthy's debt-limit spending cut package?
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +4 min

SPENDING RESTRAINTSThe plan would cut a wide swath of government spending to last year's levels, a decrease of about 9%. It is not clear how the spending caps would affect specific government operations, from air traffic control to housing to the military. The caps would reduce spending in real terms as they would not keep up with projected inflation and population growth. CLAW BACK UNSPENT COVID-19 FUNDSThe plan would cancel the remaining funds from the $5.2 trillion Congress approved between 2020 and 2022 to fight COVID-19. TIGHTEN WORK REQUIREMENTSThe plan would stiffen work requirements for participants in some antipoverty programs.

☆ China warns US House Speaker not to meet Taiwan president
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Leah Millis/File PhotoBEIJING, April 4 (Reuters) - China warned U.S. House Speaker Kevin McCarthy on Tuesday not to "repeat disastrous past mistakes" and meet Taiwan President Tsai Ing-wen, saying it would not help regional peace and stability, but only unite the Chinese people behind a common enemy. China, which claims Taiwan as its own territory, staged war games around the island last August after then-Speaker Nancy Pelosi, a Democrat, visited the capital, Taipei. The U.S. says such stopovers are common practice and there is no need for China to overreact. In a statement on Tuesday, Taiwan's foreign ministry said China had no right to complain, as the People's Republic of China has never ruled the island. "Even if the authoritarian government continues with its expansion and intensifies coercion, Taiwan will not back down."

☆ Top U.S. House Republican McCarthy wants compromise on debt ceiling, cuts from Biden
▼ + stars: | 2023-02-07 | by ( David Morgan | ) www.reuters.com time to read: +3 min

[1/3] U.S. House Speaker Kevin McCarthy (R-CA) delivers remarks on the debt ceiling, outside of his office on Capitol Hill in Washington, U.S., February 6, 2023. REUTERS/Evelyn HocksteinWASHINGTON, Feb 6 (Reuters) - Republican U.S. House Speaker Kevin McCarthy called on Democratic President Joe Biden to agree to compromises and spending cuts, as the two remain deadlocked over raising the nation's $31.4 trillion debt ceiling. The White House has said Biden will discuss federal spending cuts with Republicans, but only after the debt ceiling is lifted, while McCarthy has said Republicans will only lift the ceiling if Biden agrees to spending cuts. House Republicans want to use the debt ceiling, which covers the spending programs and tax cuts Congress previously approved, as leverage to push spending cuts, after two years of Democratic control of the House and the Senate. (This story has been corrected to change the headline to specify that McCarthy is seeking a compromise on the debt ceiling, and not debt ceiling cuts)Reporting by David Morgan; Additional reporting by Doina Chiacu and Rami Ayyub; Editing by Scott Malone, Jonathan Oatis and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

[1/2] U.S. House of Representatives Minority Leader Kevin McCarthy (R-CA) arrives as House Republicans gather for leadership elections at the U.S. Capitol in Washington, U.S., November 15, 2022. REUTERS/Leah Millis/File PhotoWASHINGTON, Nov 22 (Reuters) - The top Republican in the U.S. House of Representatives, Kevin McCarthy, on Tuesday called on Homeland Security Secretary Alejandro Mayorkas to step down, warning that the House may try to impeach him when Republicans take the majority next year. "Our country may never recover from Secretary Mayorkas' dereliction of duty," McCarthy told reporters in El Paso, Texas, on Tuesday after speaking with border officials. "If Secretary Mayorkas does not resign, House Republicans will investigate every order, every action and every failure (to) determine whether we can begin (an) impeachment inquiry," he said. He became the first Latino and foreign-born Homeland Security chief when he was confirmed to the role in February 2021.

☆ Top U.S. House Republican McCarthy plans special committee on China
▼ + stars: | 2022-11-20 | by ( ) www.reuters.com time to read: +2 min

"We will put a stop to this and no longer allow the administration to sit back and let China do what they are doing to America." McCarthy also said he would keep his promise to oust a number of Democrats from key House committees, including Representative Adam Schiff, the chairman of the intelligence committee. He said he would also remove Representative Eric Swalwell from the intelligence committee and Representative Ilhan Omar from the foreign affairs committee. China's Embassy in Washington acknowledged the existence of volunteer-run sites in the United States, but said they were not "police stations." Reporting by Chris Gallagher and Leah Douglas; Editing by Daniel Wallis and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Republican McCarthy"

18 mentions found