President Biden addressed the nation Friday night to mark the passage of the "Fiscal Responsibility Act," which will suspend the country's debt limit and prevent a catastrophic default. The president spent weeks negotiating with House Speaker Kevin McCarthy over a deal. CBS News chief White House...
WASHINGTON, March 16 (Xinhua) -- U.S. Treasury Secretary Steven Mnuchin on Thursday urged Congress to raise the debt limit as soon as possible to avoid a potential federal government default. "I respectfully urge Congress to protect the full faith and credit of theUnited Statesby acting to i...
Raising the debt limit would increase the amount the U.S. can borrow to meet its spending obligations. Suspending the debt limit means Congress freezes it until a specific date and then, as theCommittee for a Responsible Federal Budgetputs it, "sets an automatic catch-up," so that when tha...
WASHINGTON, Sept. 6 (Xinhua) -- U.S. President Donald Trump on Wednesday reached a deal with Democratic leaders to raise the federal government's debt limit and fund the government through December 15, as part of a package that includes disaster aid for Hurricane Harvey victims. The agreement...
WASHINGTON, June 11 (Xinhua) -- The Trump administration hasn't publicly said when the federal government would run out of cash, which could complicate the administration's efforts to convince U.S. Congress to raise the debt limit sooner rather than later, according to the Wall Street Journal...
The House will return Tuesday night for suspension votes, a source familiar with the matter told CNN, giving GOP leadership the opportunity to whip its members in person ahead of anexpected debt limit voteWednesday. The whip operation will be intense for the leadership team, as having members ...
Debt limit talks have entered an encouraging new phase as President Joe Biden and House Speaker Kevin McCarthy have tapped top emissaries to negotiate a deal to avert an unprecedented national default. The president also cut his upcoming overseas trip sh
U.S. Senate Aide Says Leaders Agreed to Raise Debt Limit by $480 Billion More Reuters The U.S. Capitol is seen as Senate Democrats and Republicans sought to reach an agreement on to avert a debt crisis in Washington, U.S., October 7, 2021. REUTERS/Joshua Roberts ...
The fear of a debt default looms large, with US Treasury Secretary Janet Yellen warning Congress on Monday that the US might be unable to pay the bills as early as June 1 if lawmakers didn't raise or suspend the debt limit, which could have severe global consequences. On Thursday, Senate...
Debt limit deal would allow completion of West Virginia gas pipeline Critics say allowing the Mountain Valley Pipeline to be fast-tracked would be a "colossal error" after a history of construction complaints and the impacts of its potential emissions. May 30, 2023 Biden hopes for "evidence...