The standoff over the nation's borrowing limit inched ever-so-slightly forward on Wednesday, but a resolution remains out of sight.
President Joe Biden is set to meet with House Speaker Kevin McCarthy on Wednesday.
“I haven’t heard any plausible case for that,” Sen. Elizabeth Warren (D-Mass.) said of a proposed scheme to stave off a calamitous debt default.
House Republicans have been calling for spending cuts, but the White House says Congress should raise the debt limit with no strings.
House Republicans and Democrats are facing a showdown over raising the nation’s borrowing limit as the U.S. hits its $34.1 trillion debt ceiling.
The Senate minority leader said he expects an agreement to raise the debt ceiling by mid-year.
Abigail Disney ripped the World Economic Forum as a "farce" and demanded participants address "only thing that can make a difference: Taxing the rich."
A closer look at Kevin McCarthy's misleading ― and revealing ― case for playing chicken with the debt ceiling
The outgoing House Budget chairman said bypassing the issue in the lame duck period is akin to giving Republicans “a legislative nuclear weapon.”
Raising the limit on government borrowing in the lame duck would help Biden but could risk other priorities.