{"id":1939734,"date":"2023-05-28T03:43:06","date_gmt":"2023-05-28T07:43:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-republicans-reach-tentative-agreement-on-debt-ceiling-report\/"},"modified":"2023-05-28T03:43:06","modified_gmt":"2023-05-28T07:43:06","slug":"white-house-republicans-reach-tentative-agreement-on-debt-ceiling-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-republicans-reach-tentative-agreement-on-debt-ceiling-report\/","title":{"rendered":"White House, Republicans Reach Tentative Agreement On Debt Ceiling: Report"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/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%2Fwhite-house-republicans-reach-tentative-agreement-on-debt-ceiling-report%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=1939734&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--><p>On Saturday evening, just days before a potential default, a tentative agreement has been reached between President Joe Biden and House Speaker Kevin McCarthy (R-CA) on the <a href=\"https:\/\/www.dailywire.com\/topic\/debt-ceiling\" target=\"_blank\" rel=\"noopener\">debt ceiling<\/a>.<\/p>\n<p>\u201cThe White House and negotiators for House Republicans have reached an agreement in principle to avert a debt default, two sources familiar with the situation said,\u201d <a href=\"https:\/\/www.reuters.com\/world\/us\/us-debt-ceiling-negotiations-push-towards-critical-default-deadline-2023-05-27\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a> reports, adding that Biden and McCarthy had a 90 minute phone call on Saturday.<\/p>\n<p>McCarthy held a brief conference following the news of a potential deal in which he outlined the progress that has been made.<\/p>\n<p>\u201cAfter weeks of negotiations, we have come to an agreement in principle. We still have a lot of work to do, but I believe this is an agreement in principle that is worthy of the American people,\u201d McCarthy said. \u201cIt has historic reductions in spending, consequential reforms that will lift people out of poverty into the workforce, [and] rein in government overreach. There are no new taxes, no new government programs\u2026\u201d<\/p>\n<p>\u201cWe still have more work to do tonight to finish all the writing of it,\u201d the speaker added.<\/p>\n<p>McCarthy said he expects the text of the bill to be posted on Sunday, with a vote to be held on Wednesday.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Republicans are poised to deliver big, consequential change in Washington. Soon, we will vote for a responsible debt limit agreement that stops Democrats\u2019 reckless spending, claws back unspent COVID funds, blocks Biden\u2019s new tax schemes, &#038; much, much more <a href=\"https:\/\/t.co\/TQ7CblFsaM\">https:\/\/t.co\/TQ7CblFsaM<\/a><\/p>\n<p>\u2014 Kevin McCarthy (@SpeakerMcCarthy) <a href=\"https:\/\/twitter.com\/SpeakerMcCarthy\/status\/1662627260401356800?ref_src=twsrc%5Etfw\">May 28, 2023<\/a><\/p>\n<\/blockquote>\n<p>Treasury Secretary Janet Yellen had warned that the federal government would default on June 5 if an agreement wasn\u2019t reached. \u201cWe now estimate that Treasury will have insufficient resources to satisfy the government\u2019s obligations if Congress has not raised or suspended the debt limit by June 5,\u201d Yellen <a href=\"https:\/\/www.reuters.com\/markets\/us\/yellen-moves-forecast-earliest-potential-us-default-date-june-5-2023-05-26\/\" target=\"_blank\" rel=\"noopener\">stated<\/a>.<\/p>\n<p>The Treasury Department said it has been enacting \u201cextraordinary measures\u201d since January when the United States hit its statutory limit of roughly $31.4 trillion, and has warned of dire economic consequences if the country is unable to reach a deal to lift the debt ceiling.<\/p>\n<p>The White House and the GOP-led Congress have been engaged in a protracted battle over the details of a debt ceiling agreement. The president and Democrats broadly called for a clean debt ceiling raise even after the House passed a bill that would raise the debt ceiling while cutting discretionary spending and limit spending increases for the next decade.<\/p>\n<p>The House Freedom Caucus, a bloc of conservative Republicans, previously <a href=\"https:\/\/www.dailywire.com\/news\/house-freedom-caucus-chairman-responds-as-white-house-lobs-spurious-claims-at-spending-cut-proposal\" target=\"_blank\" rel=\"noopener\">said<\/a> they would consider voting to raise the debt limit in exchange for a framework that returns expenditures to fiscal year 2022 levels, raises the debt ceiling only for the next year, and restricts annual spending growth to 1% over the next decade. McCarthy recently <a href=\"https:\/\/www.dailywire.com\/news\/gop-led-house-passes-mccarthys-plan-to-raise-debt-limit\" target=\"_blank\" rel=\"noopener\">passed<\/a> the framework in the House by means of the \u201cLimit, Save, Grow Act.\u201d<\/p>\n<p><i>Ben Zeisloft and Tim Pearce contributed to this report.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Saturday evening, just days before a potential default, a tentative agreement has been reached between President Joe Biden and House Speaker Kevin McCarthy (R-CA) on the debt ceiling. \u201cThe White House and negotiators for House Republicans have reached an agreement in principle to avert a debt default, two sources familiar with the situation said,\u201d<\/p>\n","protected":false},"author":132,"featured_media":1939735,"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":[541],"tags":[5877,10142,5487,3653,5064,3819,3756,5717,3765],"class_list":["post-1939734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-agreement","tag-ceiling","tag-debt","tag-house","tag-reach","tag-report","tag-republicans","tag-tentative","tag-white"],"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\/1939734","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\/132"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1939734"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1939734\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1939735"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1939734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1939734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1939734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}