DIRS.INFO The most relevant business & tech news

☆ McCarthy faces sudden challenge from hardliners after US debt ceiling bill
▼ + stars: | 2023-06-07 | by ( David Morgan | ) www.reuters.com time to read: +3 min

Those hardliners were among the House Republicans who opposed McCarthy's election as speaker in January until he agreed to concessions that make it easy to challenge his leadership. They were also among the 71 Republicans who opposed the compromise debt ceiling legislation passed last week. McCarthy oversees a narrow House Republican majority of 222-213, meaning that he can lose only four votes from his own party on any measure that faces uniform opposition from Democrats. McCarthy endured 15 floor votes in January until he finally won the vote for speaker, agreeing to a set of demands that the hardliners now say he violated to pass the debt ceiling bill. Is it going to be through consensus, or is it going to be by fiat?” said Republican Representative Chip Roy.

Persons: Kevin McCarthy, McCarthy, Dan Bishop, It's, Patrick McHenry, ”, Chip Roy, David Morgan, Andy Sullivan, Leslie Adler Organizations: ., Republican, Democrats, House Republicans, Thomson

☆ Factbox: Who are the Republican candidates running for president?
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +6 min

June 22 (Reuters) - At least 10 Republican candidates have announced that they will try to win their party's nomination to take on Democratic President Joe Biden in the November 2024 election. DONALD TRUMPTrump, 77, announced his election campaign last November as he faced criticism from within his Republican Party over his support for far-right candidates who were defeated in the midterm elections. Like Biden, the former president remains unpopular with swaths of the electorate. DOUG BURGUMDoug Burgum, who is serving his second four-year term as North Dakota's governor, launched his campaign earlier this month. FRANCIS SUAREZMiami Mayor Francis Suarez, 45, is the only Hispanic candidate in the Republican field and the third candidate from Florida along with Trump and DeSantis.

Persons: Joe Biden, DONALD TRUMP Trump, Biden, Trump, RON DESANTIS, DeSantis, MIKE, Pence, Trump's, NIKKI HALEY, Haley, TIM SCOTT, Scott, VIVEK RAMASWAMY, Ramaswamy, CHRIS CHRISTIE, Chris Christie, ASA HUTCHINSON, Hutchinson, DOUG BURGUM Doug Burgum, FRANCIS SUAREZ, FRANCIS SUAREZ Miami Mayor Francis Suarez, Suarez, Katharine Jackson, Ross Colvin, Andy Sullivan, Colleen Jenkins, Nick Zieminski, Alistair Bell, Jonathan Oatis Organizations: Republican, Democratic, Republican Party, New, Twitter, Trump, Walt Disney Co, Ukraine, U.S . Capitol, Constitution, Republican White House, Christian, United Nations, Biden, TIM, Black Republican U.S, Reuters, New Jersey, ASA, White House, Microsoft, FRANCIS SUAREZ Miami Mayor, Cuban, Thomson Locations: New York, Florida, U.S, South Carolina, Arkansas, Southern, South Florida

☆ U.S. public sees no clear winner in debt ceiling deal -Reuters/Ipsos
▼ + stars: | 2023-06-06 | by ( Jason Lange | ) www.reuters.com time to read: +2 min

WASHINGTON, June 6 (Reuters) - Neither President Joe Biden's Democrats nor Republicans in Congress emerged as a clear winner in the battle to raise the $31.4 trillion debt ceiling, according to a new Reuters/Ipsos poll. Another 20% said they thought Democrats emerged with the better side of the deal, while 11% said Republicans had done better, according to the four-day poll which concluded on Monday. Biden and McCarthy reached a deal last week to suspend the debt ceiling weeks of negotiations between Biden's White House and Republicans who control the House of Representatives. Politicians on both sides have presented the deal as a victory, with Republicans touting a reduction in non-military spending. The deal would cut spending by $1.3 trillion, less than the $4.8 trillion Republicans had sought.

Persons: Joe Biden's, Joe Biden, Kevin McCarthy, Biden, McCarthy, Washington, Jason Lange, Andy Sullivan, Aurora Ellis Organizations: Republicans, Reuters, Biden's, House, Representatives, Thomson

☆ U.S. House Republicans aim to defend gas-stove owners' 'freedoms'
▼ + stars: | 2023-06-06 | by ( Richard Cowan | ) www.reuters.com time to read: +2 min

Republicans accuse the Biden administration of pursuing regulations that could impact the more than one-third of American households using gas stoves for cooking. "The White House wants to limit your ability to purchase and use gas stoves," House Rules Committee Chairman Tom Cole said on Monday. Democrats say they are trying to ensure new gas stoves do not lead to carbon monoxide poisoning or put children at risk of developing asthma. "Contrary to rhetoric out there, the government is not coming for anybody's gas stove," Democratic Representative Mary Gay Scanlon said on Monday. The votes come as the U.S. Consumer Product Safety Commission (CPSC) has begun collecting information on health hazards of gas stove emissions.

Persons: Biden, Tom Cole, Mary Gay Scanlon, Richard Trumka, Donald Trump, Richard Cowan, Andy Sullivan, Chris Reese Organizations: Republican, Democratic, U.S . Consumer Product Safety, Gas, Protection, Department of Energy, Thomson

☆ Trump lawyers visit U.S. Justice Department amid documents probe
▼ + stars: | 2023-06-05 | by ( Sarah N. Lynch | Thomson Reuters | Sarah N. Lynch Is The Lead Reporter For Reuters Covering The U.S. Justice Department Out Of Washington | ) www.reuters.com time to read: +3 min

WASHINGTON, June 5 (Reuters) - Three lawyers for former President Donald Trump left the U.S. Department of Justice Monday amid reports that federal prosecutors are wrapping up an investigation into whether he mishandled classified documents. The three lawyers - Lindsey Halligan, John Rowley and James Trusty - declined to answer questions as they left the building in Washington. It was not immediately clear what any potential meeting between the lawyers and the department may mean for Trump. Lawyers typically meet with Justice Department representatives before an indictment is handed down. Trump's lawyers last month sent the department a letter asking for a meeting with U.S. Attorney General Merrick Garland.

Persons: Donald Trump, Lindsey Halligan, John Rowley, James, Trump, General Merrick Garland ., Garland, Jack Smith, Mike Pence, Department's, Sarah N, Lynch, Susan Heavey, Jacqueline Thomsen, Nathan Layne, Andy Sullivan, Howard Goller Organizations: U.S . Department of, Justice Department, White House, Trump, Lawyers, U.S, Department of Justice, Media, Capitol, White, Thomson Locations: Washington, Manhattan, Indiana, Georgia

The deal to suspend the $31.4 trillion debt ceiling until January 2025 holds non-defense discretionary spending largely flat this year, with a 1% increase in fiscal 2024. SOCIAL SECURITY, MEDICARE OFF LIMITSIn their debt limit negotiations, both President Joe Biden and House of Representatives Speaker Kevin McCarthy vowed not to touch the main driver of U.S. debt: rising Social Security pension and Medicare health benefit costs. Debt-ceiling negotiations spared cuts to mandatory spending like Medicare, Medicaid and Social Security even though these programs cost more than discretionary spending. CBO projects the government will spend $6 trillion on mandatory spending programs in the 2033 fiscal year, up from $4.1 trillion this year. But the plan failed when then-president Barack Obama declined to endorse it, setting up Congress for the debt ceiling battle of 2011.

Persons: Joe Biden, Kevin McCarthy, Julia Nikhinson, Dennis Ippolito, you've, Nigel Chalk, Biden, Brian Riedl, Linda Bilmes, Bowles, Barack Obama, Bilmes, David Lawder, Andy Sullivan, Heather Timmons, Nick Zieminski Organizations: White, REUTERS, WASHINGTON, Republicans, Defense, Southern Methodist University, Congressional Budget Office, Security, Social Security, CBO, International Monetary Fund, Reuters, Democratic, Western Hemisphere Department, IMF, Manhattan Institute, Harvard Kennedy School, Commerce Department, Simpson, Thomson Locations: United States, Washington , U.S, U.S, Washington

The motion also noted that the judge encouraged a former Trump Organization executive to cooperate during a prior case, calling that a preconceived bias against Trump. It is proceeding in state court ahead of a decision. The Trump Organization was not successful in getting him to step aside in the tax-fraud case. Trump's lawyers say the judge pushed former Trump Organization CFO Allen Weisselberg to cooperate during plea negotiations in last year's tax fraud case against him and the company. The Trump Organization was found guilty of tax fraud and fined $1.6 million.

Persons: Donald Trump, Justice Juan Merchan, Stormy Daniels, Read, Trump's, Juan Merchan, Merchan, Trump, Robert Tembeckjian, Daniels, Stephanie Clifford, Lucian Chalfen, Loren, Allen Weisselberg, Weisselberg, Karen Freifeld, Luc Cohen, Andy Sullivan, David Gregorio Our Organizations: U.S, Justice, New, Trump Organization, Trump, Democratic, Biden, Judicial, Manhattan District Attorney, Authentic, Thomson Locations: Manhattan, New York City, U.S, New York, Merchan

Though the showdown unnerved investors and prompted threats of a second U.S. debt downgrade in a little over a decade, proposals to abolish the debt ceiling have gained little traction in Congress in recent years. But Democrats did not try to abolish the debt ceiling when they controlled the White House and both chambers of Congress in 2021 and 2022. 'OUTLIVED ITS USEFULNESS'Some budget hawks who previously supported the debt ceiling now argue that the growing dysfunction in Washington has made the risk of default too great. Absent those reforms, many budget experts say the debt ceiling is the only way to force some sort of fiscal restraint. "I would never just drop the debt ceiling and do nothing else in its stead.

Persons: we've, Mike Rounds, Janet Yellen, Steve Ellis, We're, Bill Foster, Barack Obama, Brian Riedl, Riedl, MacGuineas, Andy Sullivan, David Morgan, Scott Malone, Chizu Organizations: Republicans, Democratic, White, Republican, Taxpayers, Democrats, Congress, Biden, Manhattan Institute, Center, Budget, Thomson Locations: U.S, Washington, United States, Denmark

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

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

Representative Stephanie Bice, a Republican vote counter, said she was confident it would pass. "I think it's important to keep in mind the debt limit bill itself does not spend money," he wrote on Twitter. At least one, Representative Mary Gay Scanlon, is a member of a moderate group that supports the deal. The debt-ceiling standoff prompted ratings agencies to warn they might downgrade U.S. debt, which underpins the global financial system. Reporting by Moira Warburton and Andy Sullivan; Editing by Kieran Murray and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Florida Governor Ron DeSantis, a candidate for the Republican 2024 presidential nomination, said the deal does not do enough to change the fiscal trajectory. "After this deal, our country will still be careening toward bankruptcy," he said on Fox News. There's no question about that," said Republican Representative Dusty Johnson, who said he had talked to dozens of fellow lawmakers. Some $4 trillion in debt for - at best - a two-year spending freeze and no serious substantive policy reforms," Roy wrote on Twitter. McCarthy has predicted it will draw the support of most of his fellow Republicans, who control the House 222-213.

WASHINGTON, May 27 (Reuters) - U.S. President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal to suspend the federal government's $31.4 trillion debt ceiling on Saturday evening, ending a months-long stalemate. Biden and McCarthy held a 90-minute phone call earlier on Saturday evening to discuss the deal, McCarthy briefed his members later in the evening, and the White House and the House leader spoke afterward. [1/6] General view of the U.S. Capitol after U.S. House Speaker Kevin McCarthy (R-CA) reached a tentative deal with President Joe Biden to raise the United States' debt ceiling and avoid a catastrophic default, in Washington, U.S. May 27, 2023. The long standoff on raising the debt ceiling spooked financial markets, weighing on stocks and forcing the United States to pay record-high interest rates in some bond sales. The work to raise the debt ceiling is far from done.

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.

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. It would boost spending on the military and veterans' care, and cap spending for many discretionary domestic programs, according to sources familiar with the talks. McCarthy said Republicans were also still pushing for reforms to energy permitting, including making it easier to drill for gas and oil. 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.

Section Four of 14th Amendment, adopted after the 1861-1865 Civil War, states that the "validity of the public debt of the United States ... shall not be questioned." WHERE DOES THE WHITE HOUSE STAND ON THE 14TH AMENDMENT? HOW WOULD MARKETS REACT IF BIDEN USES THE 14TH AMENDMENT? Administration officials and economists have said that a default triggered by a debt-ceiling breach would roil the world financial system and plunge the United States into recession. That immediate catastrophe might be avoided if Biden invoked the 14th Amendment.

LAKE CHARLES, La., May 18 (Reuters) - In Washington, Republican U.S. Representative Clay Higgins has been a vocal advocate for spending cuts. As a member of the hard-right Freedom Caucus, Higgins was an early advocate for dramatic spending cuts, many of which ended up in the House bill. He hopes the spending cuts backed by Higgins won't affect local efforts to provide affordable housing. When it comes to spending, Higgins has been a solid "no" in Washington. For some local residents, Higgins' push for spending cuts in the face of so much need remains incomprehensible.

The poll found that 76% of Americans said the two sides must reach a deal because a default would put added financial stress on families like theirs. That included 84% of self-described Democrats and 77% of self-described Republicans. Some 49% said Congress needs to quickly raise the debt ceiling without conditions to avert default, echoing Biden's position. But 51% of Americans said the debt ceiling should not be raised without substantial spending cuts - the position held by Republicans who hold a majority in the House of Representatives. That view was held by 69% of Republicans and 42% of Democrats, the poll found.

The White House has not ruled out the annual spending caps that Republicans say must accompany any increase in the nation's $31.4 trillion debt limit. Republicans, who control the House, have said they will not vote to raise the debt ceiling unless Democrats agree to sharp spending cuts. BUDGET TALKSBiden has insisted that Congress must increase the country's borrowing capacity without conditions, but the White House says it is also willing to discuss budget matters with House Republicans. House Republicans passed legislation in April that pairs a $1.5 trillion debt-ceiling hike with $4.8 trillion in spending cuts, largely achieved by cutting annual discretionary spending by 8% next year and capping growth in the years to come. The White House and Republicans may agree to ease permitting requirements for pipelines and other energy infrastructure - though that would require time to draft into legislation, said Brian Riedl, a fellow at the conservative Manhattan Institute.

The White House has not ruled out the annual spending caps that Republicans say must accompany any increase in the nation's $31.4 trillion debt limit. Republicans, who control the House, for their part, are not insisting on other conditions that the White House has deemed off limits, such as a repeal of the green-energy incentives in Biden's Inflation Reduction Act of 2022. Biden told reporters on Sunday that he thought both sides wanted to reach a deal. "I still think we're far apart," McCarthy told reporters. BUDGET TALKSBiden has insisted that Congress must increase the country's borrowing capacity without conditions, but the White House says it is also willing to discuss budget matters with House Republicans.

Biden told reporters on Sunday that he thought both sides wanted to reach a deal. Staff from the two camps met through the weekend for talks that White House officials described as constructive. Republicans say there is plenty of time. Biden has insisted that Congress must increase the country's borrowing capacity without conditions, but the White House says it is also willing to discuss budget matters with Republicans who control the House of Representatives. The longer the two sides take to reach a deal, the smaller it is likely to be, he said.

The United States could run out of money to pay its bills as soon as June 1 if Congress does not raise its self-imposed $31.4 trillion debt ceiling, according to Treasury Secretary Janet Yellen. Democrats say they might try to pass a "clean" debt ceiling hike, but that would be unlikely to win enough Republican votes for passage. The centerpiece of the House Republican plan would scale back a wide swath of annual government spending to last year's levels, a cut of about 8%, and cap its growth by 1% each year after that. The Republican plan does not specify how individual programs would fare. Democrats have argued that domestic spending would take the biggest hit, as Republicans would try to protect military and veterans programs.

Search resuls for: "Andy Sullivan"

25 mentions found