The discharge petition being initiated is seen as a last resort for averting default if negotiations over raising the debt ceiling collapse, and a way to pressure Republicans to strike a deal.
Tag: National Debt (US)
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Kevin McCarthy Can Now Engage With President Biden on Debt Limit
Mr. McCarthy, who Republicans believe has been treated dismissively by Democrats, was buoyed by President Biden’s decision to negotiate more directly with him on the debt ceiling.
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Biden and McCarthy Set for More Talks as Debt Ceiling Deadline Nears
Tuesday’s negotiations at the White House come a day after the Treasury Department reiterated that the government could run out of money to pay its bills by June 1.
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Debt Ceiling: Yellen Reiterates That U.S. Could Run Out of Cash by June 1
The latest warning to Congress came before another meeting on Tuesday between President Biden and Speaker Kevin McCarthy to resolve the debt ceiling crisis.