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The new president and congressional leaders are meeting Tuesday to hash out a strategy for maintaining US creditworthiness and the government's ability to service $36 trillion in debt. Trump is ...
GOP leaders in the House last month floated an idea to raise the debt limit by $1.5 trillion in 2025 as part of a first reconciliation package, which may include border security and energy ...
Bill passed after senators rejected 11 proposed amendments
For about 48 hours last week, it looked like a debt ceiling fight in 2025 would be averted, as ideas were floated to postpone the issue until 2027 or 2029 (or even forever). But it was not to be.
Crucial debt ceiling negotiations are still far from success, but a deal is possible by the end of the week, Republican House Speaker Kevin McCarthy said after a brief meeting Tuesday with ...
The United States debt ceiling is a legislative limit that determines how much debt the Treasury Department may incur. [23] It was introduced in 1917, when Congress voted to give Treasury the right to issue bonds for financing America participating in World War I, [24] rather than issuing them for individual projects, as had been the case in the past.
The debt ceiling had been suspended until January 2 as part of the bipartisan Fiscal Responsibility Act, which Congress approved in June 2023 after months of contentious debate between the GOP-led ...
The debt ceiling compromise bill sailed to passage in the House on Wednesday evening. The House voted 314-117 after just over an hour of debate on the legislation. The bill required a simple ...