Debt Limit Talks Resume At Capitol As Republicans, White House Face ‘Real Differences’
May 19, 2023 3:58PM PDT
Speaker of the House Kevin McCarthy, R-Calif., arrives for a closed-door meeting with fellow Republicans as he pushes his sweeping debt ceiling package, at the Capitol in Washington, Wednesday, April 26, 2023. McCarthy is struggling to round up the votes for the bill, which would couple an increase of the country’s debt ceiling with restrictions on federal spending. A final vote on the package is likely Thursday. (AP Photo/J. Scott Applewhite)
WASHINGTON (AP) — Debt limit talks are back on at the Capitol, according to the White House.
Negotiations suddenly resumed late Friday after having come to an abrupt standstill earlier in the day.
Republican House Speaker Kevin McCarthy had said it was 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.
President Joe 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.
More about: