Treasury Secretary Janet Yellen has warned of "economic and financial catastrophe" if the debt ceiling is not lifted or suspended by June 1. Congressman Patrick McHenry of North Carolina, Chairman of the House Financial Services Committee, is working to come up with a solution to the debt ceiling issue, noting that a "protracted" default could trigger a Great Recession type of scenario. Both are urging Congress and the White House to come to an agreement before the June 1 deadline in order to avoid economic disaster.
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The US is facing an unprecedented default as it reaches its legal borrowing limit, leading to a standoff between Congress and the White House. The recent influx of cash to the IRS has allowed it to process new and backlogged tax returns, giving policymakers a more precise picture of when the Treasury could run out of money. Republicans have proposed extending the deadline, though the White House has not made any commitments.
The Arizona Supreme Court has fined attorneys for Kari Lake, the 2022 Republican candidate for governor, for making false claims about the November election. The court ordered the attorneys to pay $2,000 for repeating "unequivocally false" statements in court, which Chief Justice Robert Brutinel said undermined the integrity of the electoral process. Gov. Katie Hobbs (D) and Secretary of State Adrian Fontes (D) welcomed the ruling as a reminder that false claims about elections will not be tolerated.
Andrew Gillum, former Florida Democratic candidate for governor, was acquitted Thursday of lying to the FBI in a corruption case. The jury was unable to reach a verdict on charges that Gillum funneled tens of thousands of dollars in campaign money to personal accounts. Gillum has maintained his innocence throughout the case and expressed relief at the jury's decision, thanking his supporters and looking forward to continuing to serve the public.
Sen. Dianne Feinstein (D-Calif.) has defended her absence from the Senate due to shingles, stating that there has been no slowdown in confirming President Joe Biden's judicial nominees. She has blamed Republicans for blocking a few nominees from moving forward in the Senate judiciary committee, and expressed confidence that when she returns, the remaining qualified nominees will be able to move quickly to the Senate floor for a vote. Despite her absence, the Senate has confirmed over 100 judicial nominees since Biden took office in January.
North Carolina lawmakers have passed a bill that would ban nearly all abortions after 12 weeks of pregnancy, sparking debate among both pro-choice and pro-life advocates. The bill is expected to be signed into law by Governor Roy Cooper and is likely to face legal challenges in the coming months.
ProPublica has reported that wealthy Republican donor Harlan Crow paid for Supreme Court Justice Clarence Thomas' grandnephew to attend two private schools in the late 2000s. Crow defended his actions, and the cost of the tuition could have been at least $150,000. This has sparked outcry and calls for ethics reform, as critics argue that the payments could be seen as a form of bribery and could be in violation of the Code of Conduct for United States Judges.
Two top congressional Republicans have issued a subpoena to the FBI for a document related to a possible bribery scheme involving President Joe Biden, which was brought to their attention by a whistleblower. The White House has accused the lawmakers of an "unfounded political attack" and the FBI is expected to respond to the subpoena in the coming days. The allegation has sparked a heated debate among Republicans, with some taking to Fox News to weigh in.