Top US Republican Kevin McCarthy says he saw 'the path' to breakthrough in talks to avert a looming default on $31.4 trillion debt that could throw American economy into a recession
"We're not there — we haven't agreed to anything yet — but I see the path that we could come to an agreement," House speaker Kevin McCarthy says. / Photo: Reuters
"We're not there — we haven't agreed to anything yet — but I see the path that we could come to an agreement," the House speaker said in his most upbeat assessment yet of the stand-off between Republicans in Congress and Democratic President Joe Biden.McCarthy secured the House speaker's gavel in January by pledging to his party's hard-right fringe that any raise in the borrowing limit would only come with deep cuts to federal spending.
Any deal would need to pass the Republican-led House and the Democratic-majority Senate ahead of the deadline, and McCarthy said he estimated the lower chamber would need four days, while senators could pass a bill in seven. "They are strong in their beliefs on the Democratic side... They're working through it in a very professional manner."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
McCarthy optimistic House GOP will avert default, cut spending in the showdown with BidenHouse Speaker Kevin McCarthy said on Wednesday the White House continues to be an “obstacle” but there is still a chance for a debt-limit deal to avoid a default crisis as soon as June 1.
Read more »
Kevin McCarthy: 'Scope' of Debt Ceiling Talks ImprovingHouse Speaker Kevin McCarthy (R-CA) said on Tuesday that the “scope” of the debt ceiling negotiations with President Joe Biden is improving.
Read more »
Kevin McCarthy doubles down on GOP’s debt ceiling stance: ‘I never give up’House Speaker Kevin McCarthy says Biden's administration has agreed to a new debt ceiling negotiation structure and emphasized Republicans 'don't want to have a Biden default.'
Read more »
Kevin McCarthy gets good newsHouse Speaker Kevin McCarthy once had a hard time getting people to believe in him. Recent polling shows tides are shifting.
Read more »