McCarthy confirms no tax hikes in debt ceiling talks at White House.

House Speaker Kevin McCarthy Reiterates Republican Stance on Debt Ceiling

House Speaker Kevin McCarthy (R-CA) described his meeting with President Joe Biden on Monday as “productive,” but emphasized that Republicans would not consider raising taxes as part of any debt ceiling agreement. McCarthy stated that the issue is “spending,” not “revenue,” and that the government should focus on reducing expenditures rather than increasing taxes. When asked if he was willing to discuss raising revenue, McCarthy responded with a firm “no.” He also reiterated two other red lines: not passing a “clean debt ceiling bill” and not capping spending for defense. Despite their differences, McCarthy praised Biden’s team of negotiators for their professionalism and commitment to reaching a bipartisan agreement.

Key Points:

• Republicans will not consider raising taxes as part of any debt ceiling agreement.
• McCarthy believes the problem is “spending,” not “revenue.”
• McCarthy reiterated two other red lines: not passing a “clean debt ceiling bill” and not capping spending for defense.
• Biden’s team of negotiators was praised for their professionalism and commitment to reaching a bipartisan agreement.