House Speaker Kevin McCarthy said Saturday that Republican negotiators were “closer to an agreement” that would resolve the looming debt crisis.
But the Republican speaker said: “I believe this is an agreement in principle that’s worthy of the American people.”
The two sides had also reached for an ambitious overhaul of federal permitting to ease development of energy projects and transmission lines. Instead, the agreement would put in place changes in the landmark 1970s' National Environmental Policy Act that will designate “a single lead agency” to develop environmental reviews, in hopes of streamlining the process.
But as another day dragged on with financial disaster looming closer, it had appeared some of the problems over policy issues that dogged talks all week remained unresolved. Americans and the world were uneasily watching the negotiating brinkmanship that could throw the U.S. and global economy into chaos and sap world confidence in the nation’s leadership.
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