House Republicans and the White House are in negotiations to raise the debt ceiling, but remain far apart in their discussions. House Speaker Kevin McCarthy is optimistic that a deal can be reached before the June 1 deadline, when Treasury Secretary Janet Yellen has said the nation will run out of money to pay its bills. Negotiators Steve Ricchetti, Shalanda Young and Louisa Terrell met with McCarthy Tuesday morning to resume talks, but Republican Rep. Garret Graves said the two sides are still far apart.
Posts tagged as “Steve Ricchetti”
President Joe Biden and congressional leaders met at the White House on Tuesday to discuss the debt ceiling and the potential for a default. Negotiations between the White House and House GOP aides are building on "direct and productive" discussions from the week prior. If the debt ceiling is not raised, the government will be unable to borrow more money and will default on its debt, potentially leading to a recession.