#Biden press conference today how to#

Arrington, R-Texas, said Sunday that Republicans would refuse to consider a deal that includes a tax increase. But McCarthy said the president had acknowledged to him privately that tax increases were “off the table,” and accused Biden of backtracking. If defense and veterans programs were exempt from cuts as Republicans seek, the proposed White House freeze at fiscal 2023 levels “would mean everything else would have to be cut 12 percent” in the coming year, said Joel Friedman, senior vice president for federal fiscal policy at the liberal-leaning Center on Budget and Policy Priorities.īiden also faulted Republicans over the weekend for refusing to consider tax increases as part of a deficit reduction plan, instead of relying solely on spending cuts. But Republicans have called for increasing defense, which would force much deeper cuts to domestic programs.

The White House would impose its near-freeze on defense and nondefense programs alike. But House Republicans, in their own debt limit bill they passed last month, called for rolling back discretionary spending to fiscal 2022 levels, which the Congressional Budget Office said would save $3.2 trillion over 10 years.ĭefense spending has become another partisan flashpoint. The White House over the weekend had proposed roughly freezing next year’s discretionary spending at this year’s levels - a plan Biden said would save an estimated $1 trillion over a decade compared to baseline projections. But starting on Friday, with Biden out of the country, the talks turned sour. Senate leaders were making plans to potentially call their members back early from this week's recess. Last week, there was renewed optimism that a deal could be reached as soon as Sunday, in time to draft legislative text, provide the required 72 hours notice and vote this week in the House. Negotiators have feuded for days over the length and severity of discretionary spending caps that would be part of a deal to raise the debt limit - a key condition demanded by Republicans. “We think it is a close call - at best,” it said. Wrightson ICAP, an independent research firm that closely follows the national debt, issued a memo Sunday night saying its own debt ceiling forecast “is not quite as gloomy as the Treasury’s - but it’s close.” The firm differed only slightly on Yellen’s prediction of running out of borrowing room before June 15. While the timeline remains uncertain, she said, “the odds of reaching June 15 while being able to pay all of our bills is quite low.” Yellen also rejected Republican claims that she may be exaggerating the fiscal stakes to force a deal because the government will get new tax receipts on June 15 that could extend the time lawmakers have to act. “I certainly haven’t changed my assessment, so I think that that’s a hard deadline,” she said on NBC’s “Meet the Press” program. Yellen warned again Sunday that federal borrowing authority could run dry as early as June 1, leaving the government unable to pay all its bills. “We’ll keep working tonight,” Ricchetti said on his way out. They left without elaborating on where things stood.

McHenry of North Carolina for about two and a half hours Sunday night at the Capitol. Garret Graves of Louisiana and Patrick T. “That’s not healthy.”īiden, at a news conference in Japan, warned that Republicans could “force a default by doing something outrageous,” as he again pushed back against steep spending cuts sought by the GOP.īiden’s delegation to the debt limit talks, including White House counselor Steve Ricchetti and budget director Shalanda Young, met with McCarthy’s proxies led by GOP Reps. “He goes overseas and now he wants to change the debate,” the California Republican said on Fox News before his phone call. McCarthy, who spoke with Biden by phone Sunday on the president’s return from a meeting of the world’s leading democracies in Japan, accused Biden of backtracking from a pledge not to include tax increases in a debt limit package. With only 10 days to spare before the government may be unable to pay all its bills, the two top negotiators will try to reset the table for a compromise that both sides claim to want but which has eluded them for months.

#Biden press conference today how to#

President Joe Biden and Speaker Kevin McCarthy plan to meet Monday afternoon to discuss how to raise the debt limit after a weekend of negotiations by proxies left each side accusing the other of throwing up new roadblocks to a deal.