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Search resuls for: "Utah Republican Mike Lee"


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US Senate Majority Leader Chuck Schumer (D-NY) speaks during a news conference following Senate Democrat policy luncheons at the US Capitol in Washington, DC, on May 31, 2023. "The Senate will stay in session until we send a bill avoiding default to President Biden's desk, we will keep working until the job is done," Schumer, D-N.Y., said on the Senate floor at the opening of Thursday's session. WASHINGTON — Senate Majority Leader Chuck Schumer will attempt to fast-track a bill through the Senate on Thursday to raise the debt limit for two years and cap government spending, as the U.S. barrels toward a June 5 deadline to avert a debt default. In exchange for giving their amendments a separate vote, McConnell hopes holdouts will agree to proceed with a full Senate vote on the debt ceiling bill before the weekend. Passing the debt limit compromise bill and sending it to President Joe Biden for his signature would "soothe the country and soothe the markets," McConnell said.
Persons: Chuck Schumer, luncheons, Biden's, Schumer, Utah Republican Mike Lee, Kentucky Republican Rand Paul, Tim Kaine, Kaine, Lee, Janet Yellen, Mitch McConnell, McConnell, holdouts, Paul, Joe Biden, Kevin McCarthy, Biden Organizations: Republican, Democratic, Utah Republican, Kentucky Republican, Management, Budget, Capitol, Schumer, Republicans Locations: Washington ,, WASHINGTON, U.S, Utah, Kentucky, Virginia, West Virginia, United States
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."
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