BREAKING: Debt limit talks resumed at the U.S. Capitol late Friday after negotiations came to an abrupt standstill earlier in the day. A White House official confirmed that the talks were back on.
White House press secretary Karine Jean-Pierre said Biden planned to be briefed on the negotiations by his team Friday evening. Biden had departed early from a Friday night dinner with G7 leaders in Hiroshima.
Still up for debate are policy changes, including a framework for permitting reforms to speed the development of energy projects, as well as the Republican push to impose work requirements on government aid recipients that Biden has been open to but the House Democratic leader Hakeem Jeffries has said was a “nonstarter.”
The internal political dynamics confronting the embattled McCarthy leaves the Democrats skeptical of giving away too much to the Republicans and driving off the Democratic support they will need to pass any compromise through Congress. Rep. Garret Graves, R-La., tapped by McCarthy to lead the talks, emerged from an hourlong session at the Capitol and said gaps remained between House Republicans and the Democratic administration.He added that the negotiations have become “just unreasonable” and that it was unclear when talks would resume.
The S&P 500 went from a gain of 0.3% to a loss of 0.1% and the Dow Jones Industrial Average went from a gain of 117 points to a loss of about 90 points.
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Debt limit talks resume at Capitol as Republicans, White House face 'real differences'Debt limit talks resumed at the U.S. Capitol late Friday, a sudden turnaround after negotiations came to an abrupt standstill earlier in the day when Republican House Speaker Kevin McCarthy said it's time to “pause” negotiations, and a White House official acknowledged there are “real differences.' The official, who was granted anonymity to talk about the private discussions, confirmed late Friday the talks were back on. 'We’ll be back in the room tonight,” McCarthy said on Fox Business News.
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House Republicans ‘Pause’ Debt Ceiling Talks With White HouseNegotiators for House Republicans walked out of debt limit talks with the White House on Friday, despite signaling optimism earlier in the week. See potential bias and similarities in coverage from Forbes, ABC and FoxNews: DebtCeiling Politics
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White House sees progress in debt limit talks; Biden directs team to get a bipartisan dealThe White House on Friday said 'steady progress' is being made toward lifting the debt limit and avoiding a default.
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GOP negotiator says it’s time to ‘press pause’ on debt limit talks with White HousePresident Joe Biden’s administration is racing to strike a deal with Republicans led by McCarthy as the nation careens toward a potentially catastrophic debt default if the government fails to increase the borrowing limit to keep paying the nation’s bills.
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Debt limit talks in standstill as Republicans, White House face 'real differences'Debt limit talks came to an abrupt standstill after Republican House Speaker Kevin McCarthy said it’s time to “pause” negotiations. A White House official acknowledged there are “real differences” that are making talks difficult. Wall Street markets were down Friday amid the developments. It's not clear when the talks will resume. Biden’s administration is racing to strike a deal with Republicans as the nation careens toward a potentially catastrophic debt default if the nation fails to pay its bills. McCarthy says it's an “easy” problem to resolve by cutting government spending.
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Debt Limit Talks in Standstill as Republicans, White House Face ‘Real Differences’The Biden administration is racing to strike a deal with Republicans as the nation careens toward a potentially catastrophic debt default if the government fails to increase the borrowing limit, now at $31 trillion, to keep paying the nation’s bills.
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