{"id":1936210,"date":"2023-05-23T10:59:59","date_gmt":"2023-05-23T14:59:59","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-and-mccarthy-aides-hunt-for-bipartisan-debt-ceiling-deal\/"},"modified":"2023-05-23T11:06:28","modified_gmt":"2023-05-23T15:06:28","slug":"biden-and-mccarthy-aides-hunt-for-bipartisan-debt-ceiling-deal","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-and-mccarthy-aides-hunt-for-bipartisan-debt-ceiling-deal\/","title":{"rendered":"Biden and McCarthy aides seek bipartisan debt ceiling agreement."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-and-mccarthy-aides-hunt-for-bipartisan-debt-ceiling-deal%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1936210&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>White House and Congressional Republicans Meet to Resolve Debt Ceiling Impasse<\/h2>\n<blockquote>\n<p>By Jarrett Renshaw<\/p>\n<p>(Reuters) \u2013 White House and congressional Republican negotiators will meet again on Tuesday to resolve a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-arrives-in-japan-to-meet-with-g-7-leaders-amid-looming-debt-crisis-at-home\/\" title=\"Biden in Japan for G-7 Meeting Amid US Debt Crisis.\">months-long impasse<\/a> over raising the government\u2019s $31.<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dems-reject-matched-spending-cuts-setting-up-debt-ceiling-showdown-with-gop\/\" title=\"Dems Reject Matched Spending Cuts, Setting Up Debt Ceiling Showdown With GOP\">4 trillion debt ceiling<\/a>, with the nation facing the risk of default in as soon as nine days.<\/p>\n<\/blockquote>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">\n\t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>\n<\/div>\n<p>President Joe Biden\u2019s Democrats and the Republicans who control the House of Representatives, led by Speaker Kevin McCarthy, remained deeply divided about how to rein in the federal deficit. Democrats argue wealthy Americans and businesses should pay more taxes while Republicans want spending cuts.<\/p>\n<p>Biden and McCarthy emerged on Monday evening from their third meeting this year on the debt ceiling talking about the need to find bipartisan compromise, even as they cling to policies that expose the divides between the two parties. <\/p>\n<p>White House aides headed back to Capitol Hill after the meeting for further talks Monday night. <\/p>\n<p>Biden and Democrats want to freeze spending in the 2024 fiscal year at the levels adopted in 2023, arguing that would represent a spending cut because agency budgets won\u2019t match inflation. The idea was rejected by Republicans, who are insisting on cuts to 2022 levels, Democratic leaders said on Monday. <\/p>\n<p>Republicans are insisting federal spending must be significantly reduced from current levels so that overall spending goes down in the upcoming fiscal year even as military spending goes up. <\/p>\n<p>Biden wants to cut the deficit by raising taxes on the wealthy and closing tax loopholes for the oil and pharmaceutical industries. McCarthy declared that boosting revenue is a non-starter. <\/p>\n<p>\u201cI don\u2019t think it\u2019s a revenue problem. It\u2019s a spending problem,\u201d McCarthy said. <\/p>\n<p>McCarthy said both he and Biden directed their negotiators \u2014 who already met for several hours earlier Monday \u2014 to \u201cwork through the night\u201d as they race toward a deal before June 1, when the Treasury Department warns the federal government could run out of money.<\/p>\n<h3>Common Ground<\/h3>\n<p>Unless Congress raises the debt ceiling and allows the federal government to borrow money to pay its bills, the United States could default on its obligations for the first time in history, potentially tipping the nation into recession and plunging global financial markets into chaos. <\/p>\n<p>Any deal to raise the limit must pass both chambers of Congress, and therefore hinges on bipartisan support. McCarthy\u2019s Republicans control the House 222-213, while Biden\u2019s Democrats hold the Senate 51-49.<\/p>\n<p>Despite the gridlock, the two sides have found some common ground on several areas, including permit reform that will help energy projects move forward and clawing back unused COVID relief funds. The two sides are also discussing imposing stricter work requirements on two <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-and-mccarthy-aides-hunt-for-bipartisan-debt-ceiling-deal\/\" title=\"Biden and McCarthy aides seek bipartisan debt ceiling agreement.\">popular public benefit programs aimed<\/a> at helping Americans out of poverty. <\/p>\n<p>But leaders cautioned that nothing has yet to be agreed upon. <\/p>\n<p>\u201cNo one\u2019s going to agree to anything until we have a finalized deal,\u201d said Republican Representative Patrick McHenry, who chairs the House Finance Committee. <\/p>\n<h3>Other News<\/h3>\n<ul>\n<li>As more Republicans jump into the GOP primary to fight wokeness, Senator Tim Scott is taking a different approach.<\/li>\n<li>A bombshell report shows Jeffrey Epstein tried to blackmail Bill Gates in today\u2019s Daily Feed<\/li>\n<li>GOP lawmakers detail why it may be best to stop providing funding for The World Health Organization<\/li>\n<li>Georgia congressman Barry Loudermilk tells one America news that the debt ceiling negotiations have boxed Joe Biden into a corner and it\u2019s time for him to move quickly<\/li>\n<li>(Reuters) \u2013 Alibaba Group Holding Ltd\u2019s cloud unit has started a round of job cuts that could slash its staff by about\u2026<\/li>\n<li>By Gilles Guillaume PARIS (Reuters) \u2013 Lynk &#038; Co, a carmaker jointly owned by China\u2019s Geely and Volvo Car, plans to open\u2026<\/li>\n<li>DOHA (Reuters) \u2013 TikTok CEO Shou Zi Chew said on Tuesday the state of Montana\u2019s ban of the app was unconstitutional and\u2026<\/li>\n<li>SEOUL (Reuters) \u2013 South Korean entertainment company HYBE, home to K-pop superstars BTS, said on Tuesday it has signed a music distribution\u2026<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>White House and congressional Republicans will meet on Tuesday to resolve the debt ceiling impasse. The government&#8217;s $31.4 trillion debt ceiling needs to be raised to avoid default in nine days. Democrats and Republicans are working to find a solution.<\/p>\n","protected":false},"author":66,"featured_media":1936211,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[5877,6810,3620,3667,10142,5487,3663,4165],"class_list":["post-1936210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-agreement","tag-aides","tag-biden","tag-bipartisan","tag-ceiling","tag-debt","tag-mccarthy","tag-seek"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1936210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1936210"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1936210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1936211"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1936210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1936210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1936210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}