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Federal spending levels are another area where a middle ground may be possible. Observers have noted that McCarthy’s bill would, on net, cut deficits by $4.8 trillion over 10 years.
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 ...
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). ... Now, with default ...
The nation’s debt ceiling was reinstated Thursday, giving congressional Republicans yet another divisive challenge to contend with in 2025. The debt ceiling is back, but no need to worry – yet ...
The Republican effort to take the debt ceiling off the table during December's government shutdown standoff was rebuffed by 34 Republicans who ignored both Johnson and Trump and their pleas to ...
Bill passed after senators rejected 11 proposed amendments
The debt ceiling was one of the sticking points Trump used to scrap a bipartisan deal to keep the government funded through March. Now he's revisiting a much-used political tool.
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 ...