Tag Archives: debt ceiling

President-elect Donald Trump on Thursday called for Congress to abolish the debt ceiling, labeling it a “psychological” barrier and an unnecessary risk to the economy. Trump’s remarks came during a phone interview with NBC News, a day after he criticized a bipartisan short-term government funding deal. “Getting rid of the …

Jake Johnson, Common Dreams Democrats on the U.S. House Agriculture Committee on Monday slammed the Republican leadership’s ongoing attacks on federal nutrition assistance, specifically criticizing members of Speaker Kevin McCarthy’s team for floating eligibility restrictions on top of those already imposed by the bipartisan debt ceiling agreement. “You have seen …

Julia Conley, Common Dreams More than a dozen economic justice groups on Friday called on the U.S. Senate Appropriations Committee to move forward with fully funding the Internal Revenue Service, arguing that Republican actions have nullified a debt ceiling deal struck by the Biden White House and GOP leaders. Under …

Ashley Murray, Michigan Advance Democratic U.S. senators want more details about who will be affected by new work requirements for government food assistance that were a Republican demand under a deal to raise the nation’s debt ceiling. Led by Sen. John Fetterman of Pennsylvania, the lawmakers sent a letter on Monday to Secretary …

President Joe Biden intends to leverage the bipartisan debt limit deal to refocus on his shadow reelection campaign. His advisors told NBC News that the President aims to highlight this accomplishment to enhance his image with voters as a unifying leader who is delivering on his promise to unite the …

Jennifer Shutt, Georgia Recorder The bipartisan debt limit bill is on its way to President Joe Biden after the U.S. Senate voted Thursday to clear the measure for his signature. The 63-36 vote followed several amendment votes, all of which were rejected. Biden is expected to quickly sign the package, …

After securing a debt ceiling agreement that caps federal spending and threatens food aid for hundreds of thousands of poor adults, House Speaker Kevin McCarthy made clear Wednesday that Republicans are not finished targeting the nation’s safety net programs—and signaled a coming effort by the GOP to slash Social Security …

Jennifer Shutt, Oregon Capital Chronicle The U.S. House took a broadly bipartisan vote Wednesday night on the debt limit package, sending it to the U.S. Senate where lawmakers are expected to vote quickly to clear the measure. The bill would suspend the nation’s borrowing limit through Jan. 1, 2025 and …

The bipartisan debt ceiling deal, if enacted into law, will disappoint borrowers hoping for an extension of the federal student loan payment pause. The Biden administration had previously extended the pause multiple times, but this time, Education Secretary Miguel Cardona may not have the authority to do so. The bill …

Ashley Murray, Florida Phoenix The holiday weekend debt ceiling deal struck by President Joe Biden and House Speaker Kevin McCarthy preserves in part new work requirements for some food stamp recipients but now with exceptions for certain populations, including veterans. The agreement released late Saturday night showed concessions from both …

Jennifer Shutt, Florida Phoenix Congress began moving the bipartisan debt limit package forward Tuesday, though frustrations with provisions in the bill could make for narrow passage in the U.S. House and U.S. Senate. Conservative Republicans and progressive Democrats both aired their disappointment with the agreement forged over the weekend, but only …

The White House wants Democrats who have doubts about the debt ceiling agreement to focus on what was excluded rather than what was included. They are working to sell the deal, which would suspend the debt ceiling until January 2025, limit federal spending during that period, and make changes to …

Rep. Pramila Jayapal said Sunday that the Biden White House should be concerned about securing the Congressional Progressive Caucus’ support for the newly announced debt ceiling agreement, given that the deal includes work requirements for aid programs and other provisions sure to infuriate the Democratic Party’s left flank. Jayapal (D-Wash.), …

House Speaker Kevin McCarthy announced a deal in principle Saturday night that would stave off a first-ever default on the nation’s debt as long as it can clear both chambers of Congress before June 5. The agreement would address the nation’s debt limit and include a “historic” reduction in spending, …

U.S. Treasury Secretary Janet Yellen on Friday warned Congress that the United States government will run out of money to pay its bills on June 5 if lawmakers don’t reach an agreement to raise the nation’s debt ceiling. “Based on the most recent available data, we now estimate that Treasury …