Author Topic: White House 'dug in' on demands in debt limit talks, McCarthy told House GOP: Source  (Read 63 times)

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Offline mystery-ak

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May 23, 2023 12:09pm EDT
White House 'dug in' on demands in debt limit talks, McCarthy told House GOP: Source
White House and House GOP appear far apart as they strive for a debt limit increase agreement

By Elizabeth Elkind FOXBusiness

Speaker Kevin McCarthy told his conference that the White House was still "dug in" on its stance in debt limit negotiations despite a Monday night meeting that both sides hailed as "productive," according to a source familiar with this morning’s remarks.

"Members were told to remain flexible for next week" in case they have to return to vote for a new debt limit bill, the source said. "McCarthy said the White House is dug in on raising taxes and [increasing] spending but by a smaller amount than they would like."

It lines up with reporting that White House negotiators have countered Republicans’ demand to cut spending to 2022 levels and cap it at 1% growth for the next decade with an offer to freeze current spending levels into the next fiscal year, with caps for one or two following years.

According to the source, McCarthy told members they have to "keep negotiating" and urged House Republicans to "stick together."

He did not, however, offer fellow lawmakers any "points of agreement" forged between the White House and House GOP negotiators, despite having roughly a week until the U.S. government is likely to run out of cash to pay all of its obligations.

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