The U.S. Capitol is seen on Saturday. President Biden is reaching for a deal with Republicans as the nation faces a deadline as soon as June 1 to raise the country’s borrowing limit.
Jose Luis Magana/AP
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Jose Luis Magana/AP
The U.S. Capitol is seen on Saturday. President Biden is reaching for a deal with Republicans as the nation faces a deadline as soon as June 1 to raise the country’s borrowing limit.
Jose Luis Magana/AP
Negotiations over a bipartisan deal to increase the United States’ debt limit appear to have faltered to the point that the Biden administration and House Republicans are focusing their public efforts on blaming the other side for the impasse, rather than working toward a final agreement.
President Biden and House Speaker Kevin McCarthy are set to speak on the phone as Biden flies back to Washington from the G-7 summit in Japan.
Speaking after the G-7 concluded, Biden repeated his accusations that Republicans were to blame for the deadlock. “It’s time for the other side to move off extreme positions because much of what they’ve already proposed is simply, quite frankly, unacceptable” he said.
Biden said he was willing to cut spending, but said Republicans needed to consider raising tax revenues. House Republicans are largely opposed to any tax increase – a major tool Biden has relied on in his proposed budgets to lower the deficit.
Biden said he expected to speak to McCarthy on Air Force One. “My guess is he’s gonna want to deal directly with me in making sure we’re all on the same page,” Biden said.
McCarthy has characterized the White House as “moving backward” in talks.
“The president pivoted back,” McCarthy said on Fox News Sunday Morning Futures. “He actually proposed spending billions more next year than we spend this year.”
“All the discussions we had before, I felt we were at a place that we could agree together, that we would have compromise. We wouldn’t get what our bill said — we would find compromise,” he added. “Now the president, even though he was overseas, fought to change places. I don’t understand that.”
President Joe Biden answers questions on the U.S. debt limits ahead of a bilateral meeting with Australia’s Prime Minister Anthony Albanese on the sidelines of the G7 Summit in Hiroshima, Japan, Saturday, May 20, 2023.
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Susan Walsh/AP
President Joe Biden answers questions on the U.S. debt limits ahead of a bilateral meeting with Australia’s Prime Minister Anthony Albanese on the sidelines of the G7 Summit in Hiroshima, Japan, Saturday, May 20, 2023.
Susan Walsh/AP
Biden says questions about the 14th amendment are ‘unresolved’
Asked about invoking the Constitution’s 14th amendment to avoid default — an untested tool that the progressive wing of his party has urged — Biden said he was unsure whether legal challenges to such a move could be resolved in time to avert default. “That’s a question that I think is unresolved,” he said.
Treasury Secretary Janet Yellen reiterated Biden’s position on the 14th amendment, telling NBC’s Meet the Press: “It doesn’t seem like something that could be appropriately used in these circumstances given the legal uncertainty around it and given the tight timeframe we’re on, so my devout hope is that Congress will raise the debt ceiling.”
Yellen has repeatedly warned lawmakers the U.S. could run out of money to pay its bills as early as June 1, which she maintains is a “hard deadline.”
“If the debt ceiling isn’t raised, there will be hard choices to make about what bills go unpaid,” she told NBC.
Biden’s top staffers are increasingly framing House Republicans as more interested in catering to the right wing of their caucus than reaching a consensus on how to lower the deficit and increase the debt ceiling.
“Last night in D.C., the Speaker’s team put on the table an offer that was a big step back and contained a set of extreme partisan demands that could never pass both Houses of Congress,” White House Press Secretary Karine Jean-Pierre said in a statement issued early Sunday morning from Hiroshima.
According to a source familiar with negotiations, the White House’s most recent offer to House Republicans included a vow to keep defense and nondefense spending in next year’s budget at the same levels as the previous fiscal years. But Republicans have insisted on cuts to nondefense spending.
