Dwelling Speaker McCarthy states personal debt ceiling negotiations can not resume until Biden returns from G-7 summit

Dwelling Speaker McCarthy states personal debt ceiling negotiations can not resume until Biden returns from G-7 summit


U.S. Residence Speaker Kevin McCarthy (R-CA) speaks to reporters with U.S. Senate Republican Minority Chief Mitch McConnell (R-KY) at his aspect subsequent debt restrict talks at the White Household in Washington, U.S., May well 9, 2023. 

Kevin Lamarque | Reuters

The on-once more, off-once again deliberations on Capitol Hill encompassing the debt ceiling are again off-again, as Residence Speaker Kevin McCarthy explained to reporters on Saturday Republicans will only carry on negotiations when President Joe Biden returns from the Group of 7 Summit in Japan.

“Regretably, the White Home moved backwards,” McCarthy explained about the existing deliberations bordering the credit card debt ceiling. “I really don’t assume we are going to be ready to go forward until the president can get back again in the country,” he added.

Biden is scheduled to return to Washington, D.C., from the G-7 summit on Sunday. The president claimed at a press meeting from the summit that he is “not at all” involved about the negotiations and thinks “we’ll be able to keep away from a default and we’ll get something first rate done.”

McCarthy’s revelation that the talks are on pause once again, at least for now, is the newest hurdle facing the debate in Congress on what to do with the pending financial debt restrict. Treasury Secretary Janet Yellen pegged June 1 as the earliest day on which the United States could operate out of money to shell out debts the authorities has already incurred.

Any offer to raise or suspend the credit card debt restrict will will need to go in the two the GOP-led Dwelling and the Democratic-controlled Senate, and crucial lawmakers in equally parties have acknowledged that the eventual compromise monthly bill could be unacceptable to hardliners.

The superior-stakes talks over increasing the financial debt limit resumed in the Capitol on Friday evening, hrs following they ended up paused at midday when Republican negotiators walked out of the area, blaming the White Dwelling for keeping up discussions.



Resource

Trump trade deadline of July 9 ‘not critical’: White House
Politics

Trump trade deadline of July 9 ‘not critical’: White House

President of the United States Donald Trump arrives at Huis ten Bosch Palace for a dinner ahead of the Nato Summit 2025 on June 24, 2025 in The Hague, Netherlands. Patrick Van Katwijk | Getty Images President Donald Trump could extend his upcoming self-imposed tariff pause deadlines, the White House said Thursday. Asked if Trump […]

Read More
Police detain six outside Palantir office at protest over deportations, military work
Politics

Police detain six outside Palantir office at protest over deportations, military work

A woman walking past the logo of U.S. big data analytics software company Palantir Technologies during the World Economic Forum annual meeting in Davos, Switzerland. Fabrice Coffrini | AFP | Getty Images Six people were taken into custody by police on Thursday as a group blocked the entrance to the New York office of Palantir […]

Read More
Trump hosting ‘One, Big, Beautiful’ event to push Senate Republicans to pass tax bill
Politics

Trump hosting ‘One, Big, Beautiful’ event to push Senate Republicans to pass tax bill

US President Donald Trump gestures towards the new flagpole on the South Lawn of the White House after arriving on Marine One in Washington, DC, US, on Saturday, June 21, 2025. Ron Sachs | Bloomberg | Getty Images President Donald Trump is set Thursday afternoon to host a group of working-class Americans at the White […]

Read More