(Sunday PO) White House and GOP reach a deal in principle to stop the nation from defaulting

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(Sunday PO) White House and GOP reach a deal in principle to stop the nation from defaulting

Post by GuideToACrazyWorld » Sun May 28, 2023 2:42 am

https://www.npr.org/2023/05/27/11776882 ... thy-latest
Negotiators for President Joe Biden and House Republicans reached an agreement in principle to avoid default, House Speaker Kevin McCarthy told reporters Saturday night.

He plans to put the measure to a vote in the House chamber as early as next Wednesday.

"After weeks of negotiations, we have come to an agreement in principle," McCarthy said speaking in the U.S. Capitol. "We still have a lot of work to do but I believe this is an agreement in principle that's worthy of the American people."

President Biden also issued a statement Saturday evening saying he will "strongly urge both chambers to pass the agreement right away."

"The agreement represents a compromise, which means not everyone gets what they want," Biden said in the statement. "That's the responsibility of governing."

House Republican leaders planned to hold a call with GOP members Saturday evening to unveil the details of the deal.

McCarthy praised the agreement for having "historic reductions in spending," while also ensuring there would be "no new taxes, no new government programs." He added that the deal included "consequential reforms that will lift people out of poverty and into the workforce."
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McCarthy plans to release bill text Sunday afternoon

Key negotiators for both sides are working through the night to write the bill. McCarthy expects that by Sunday they will finish drafting the bill and he will have another conversation with Biden, before posting the text of the legislation Sunday afternoon.

The breakthrough comes about an hour after McCarthy and Biden spoke on the phone. Earlier in the day, Biden spoke with Senate Majority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries.

The deal also follows weeks of negotiations and a tense creep toward a potential default on the nation's loans. The final deal is expected to have opponents on the extremes of both parties, but the announcement indicates that Republican and Democratic leaders believe they have the support necessary to pass the legislation.



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Re: (Sunday PO) White House and GOP reach a deal in principle to stop the nation from defaulting

Post by GuideToACrazyWorld » Sun May 28, 2023 2:43 am

And I was so looking forward to armagedon too.

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Re: (Sunday PO) White House and GOP reach a deal in principle to stop the nation from defaulting

Post by Tarmaque » Sun May 28, 2023 3:07 pm

McCarthy praised the agreement for having "historic reductions in spending," while also ensuring there would be "no new taxes, no new government programs." He added that the deal included "consequential reforms that will lift people out of poverty and into the workforce."
Translation: "We have promised to cut taxes to big business to encourage hiring." The only answer Republicans have to anything fiscal.

Which is nonsensical since right now big business can't hire the workers they want anyway. Cutting taxes isn't going to fix that.

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