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Posts tagged as “Patrick McHenry”

House of Representatives Votes to Remove Former Speaker Kevin McCarthy After His “Bring it On” TweetImage courtesy of img.huffingtonpost.com

House of Representatives Votes to Remove Former Speaker Kevin McCarthy After His “Bring it On” Tweet

By News Masher on October 3, 2023

The House of Representatives voted to remove former House Speaker Kevin McCarthy (R-Calif.) from his position, after he tweeted "Bring it on" in response to a motion to vacate the chair. McCarthy will not run for the leadership position again, and the House is now looking for a new speaker, with a candidate forum scheduled for October 10th and a potential vote for the new speaker scheduled for October 11th.

Biden and McCarthy Reach Agreement in Principle to Limit Federal Spending and Resolve Debt CrisisImage courtesy of assets2.cbsnewsstatic.com

Biden and McCarthy Reach Agreement in Principle to Limit Federal Spending and Resolve Debt Crisis

By News Masher on May 27, 2023

President Joe Biden and House Speaker Kevin McCarthy have reached an agreement in principle to limit federal spending and resolve the looming debt crisis before the June 5th deadline. The agreement is seen as a major step forward in avoiding a potential economic crisis, and the details of the agreement are still being worked out. The legislative package is expected to be presented soon, and it is hoped that the agreement will be able to resolve the debt crisis and avoid a potential economic crisis.

House Republicans Resume Talks with Biden Administration to Avert Debt Default Deadline of August 2ndImage courtesy of assets3.cbsnewsstatic.com

House Republicans Resume Talks with Biden Administration to Avert Debt Default Deadline of August 2nd

By News Masher on May 24, 2023

House Republicans passed a bill on the debt limit and spending cuts on Wednesday, but talks with the Biden administration are still ongoing and there are many areas of disagreement. The White House has proposed a plan to raise the debt limit and suspend it until the end of July, as well as a $1.7 trillion infrastructure package, both of which have been rejected by the GOP. The deadline for raising the debt limit is August 2nd, and if no agreement is reached, the US could default on its debt for the first time in history.

Treasury Secretary Janet Yellen and Congressman Patrick McHenry Warn of “Economic and Financial Catastrophe” if Debt Ceiling Not Lifted by June 1 DeadlineImage courtesy of media-cldnry.s-nbcnews.com

Treasury Secretary Janet Yellen and Congressman Patrick McHenry Warn of “Economic and Financial Catastrophe” if Debt Ceiling Not Lifted by June 1 Deadline

By News Masher on May 7, 2023

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.

Rep. Patrick McHenry’s Rollback of Donations from Bank Executives Prompts Investigation into Two of the Largest Bank Failures in HistoryImage courtesy of assets2.cbsnewsstatic.com

Rep. Patrick McHenry’s Rollback of Donations from Bank Executives Prompts Investigation into Two of the Largest Bank Failures in History

By News Masher on March 21, 2023

The House Financial Services Committee is investigating two of the largest bank failures in history, with Chairman Rep. Patrick McHenry (R-N.C.) returning donations from a fundraiser with bank executives days before the collapse. The episode highlights the power of bankers in Washington, where the industry spends heavily to fight regulation and hires former lawmakers to shape policy. The investigation into the bank failures is ongoing, and the results of the probe will be closely watched to determine if the rollback of the 2010 law and the lobbying campaign had any impact.

Rep. Patrick McHenry Calls for Investigation into Closures of Silicon Valley Bank and Signature Bank of New York, Urges All Options to be on the Table to Prevent Further Crisis in Banking SectorImage courtesy of assets1.cbsnewsstatic.com

Rep. Patrick McHenry Calls for Investigation into Closures of Silicon Valley Bank and Signature Bank of New York, Urges All Options to be on the Table to Prevent Further Crisis in Banking Sector

By News Masher on March 19, 2023

Key takeaways: Congress must investigate the circumstances that led to the closures of Silicon Valley Bank and Signature Bank of New York. Allowing a large,…

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