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US House Passes Debt Limit Bill As Default Looms

Video Credit: Wibbitz Top Stories - Duration: 01:30s - Published
US House Passes Debt Limit Bill As Default Looms

US House Passes Debt Limit Bill As Default Looms

US House Passes , Debt Limit Bill , As Default Looms. On April 26, House Speaker Kevin McCarthy passed his debt ceiling bill by a narrow margin of 217 to 215.

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NBC reports that the passage of the bill throws into question whether the United States will be able to avoid a looming default.

Both the Democratic-controlled Senate and the Biden administration have said that they would not approve the bill.

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Both the Democratic-controlled Senate and the Biden administration have said that they would not approve the bill.

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However, Republicans believe that the passage of the bill in the House opens the door for further negotiation.

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Now he should sit down and negotiate.

We are the only party to take fiscal action... that would lift the debt limit so we wouldn’t have economic damage, Kevin McCarthy, Republican House Speaker, via NBC.

NBC reports that the White House has said it will not compromise on raising the debt limit with policy strings attached.

According to the Treasury Department, economic calamity from the U.S. defaulting on its debts could happen as early as June 5 if Congress fails to act in time.

According to the Treasury Department, economic calamity from the U.S. defaulting on its debts could happen as early as June 5 if Congress fails to act in time.

Our plan has always been the same: to avoid default, to pass a clean debt ceiling — no brinksmanship, no hostage-taking.

, Chuck Schumer, Democratic Senate Majority Leader, via NBC.

However, Senate Minority Leader Mitch McConnell suggests that a compromise between both parties is the only way forward.

The agreement needs to be reached between the speaker and the president.

Until he and the speaker of the House reach an agreement, we’ll be at a standoff, Mitch McConnell, Republican Senate Minority Leader, via NBC


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United States Senate United States Senate Upper house of the US Congress

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Democratic Party (United States) Democratic Party (United States) American political party

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Mitch McConnell , Backs Trump Despite , Acrimonious Relationship. On March 6, Mitch McConnell, the United States Senate's leading Republican, endorsed Donald Trump's bid for the 2024 election. On March 6, Mitch McConnell, the United States Senate's leading Republican, endorsed Donald Trump's bid for the 2024 election. It is abundantly clear that former President Trump has earned the requisite support of Republican voters to be our nominee for President of the United States, Mitch McConnell, Republican Senate leader, via 'The Guardian'. It is abundantly clear that former President Trump has earned the requisite support of Republican voters to be our nominee for President of the United States, Mitch McConnell, Republican Senate leader, via 'The Guardian'. 'The Guardian' reports that the news comes after Trump dominated Super Tuesday primaries, and Nikki Haley pulled out of the race. . 'The Guardian' reports that the news comes after Trump dominated Super Tuesday primaries, and Nikki Haley pulled out of the race. . It should come as no surprise, that as nominee, he will have my support, Mitch McConnell, Republican Senate leader, via 'The Guardian'. During his presidency, we worked together to accomplish great things for the American people including tax reform that supercharged our economy and a generational change of our federal judiciary – most importantly, the Supreme Court, Mitch McConnell, Republican Senate leader, via 'The Guardian'. Trump and McConnell fell out over Trump's challenge of the 2020 election results, which led to the January 6 riot at the U.S. Congress. Trump and McConnell fell out over Trump's challenge of the 2020 election results, which led to the January 6 riot at the U.S. Congress. Ultimately, McConnell voted to acquit Trump during the former president's impeachment trial. Last week, McConnell said he plans to step down as leader at the end of 2024, following elections which the GOP hopes will give them control of the Senate. McConnell is the longest-serving Senate party leader ever, after first becoming a senator in 1985. . 'The Guardian' reports that the current list of contenders to replace McConnell include John Thune of South Dakota and John Cornyn of Texas. . 'The Guardian' reports that the current list of contenders to replace McConnell include John Thune of South Dakota and John Cornyn of Texas.

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John Cornyn Wants to Be , the Senate’s Next GOP Leader. On Feb. 28, Mitch McConnell announced that he is stepping down as Senate Minority Leader. The next day, Sen. Cornyn threw hit hat into the ring to succeed McConnell, 'The Hill' reports. . I am asking my Republican colleagues to give me the opportunity to succeed Leader McConnell, Sen. John Cornyn, via statement. Throughout my time I’ve built a track record of listening to colleagues and seeking consensus, while leading the fight to stop bad policies that are harmful to our nation and the Conservative cause, Sen. John Cornyn, via statement. The Republican from Texas went on to call the Senate "broken" and said he could perform a "major role" in fixing it. . From experience, I have learned what works in the Senate and what does not, and I am confident Senate Republicans can restore our institution to the essential role it serves in our constitutional republic, Sen. John Cornyn, via statement. We will improve communication, increase transparency, and ensure inclusion of every Member’s expertise and opinion. , Sen. John Cornyn, via statement. We will restore the important role of Senate committees and reestablish the regular appropriations process, rather than lurch from one crisis to another, Sen. John Cornyn, via statement. While Cornyn is the first candidate to announce an official bid for the position, . other senators that are expected to make a run for leader include John Thune and John Barrasso, 'The Hill' reports. . other senators that are expected to make a run for leader include John Thune and John Barrasso, 'The Hill' reports.

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McConnell to Step Down , as Senate Republican Leader. The Senate's longest-serving leader ever, Mitch McConnell, will step down in November, AP reports. The 82-year-old made the announcement on Feb. 28. One of life’s most underappreciated talents is to know when it’s time to move on to life’s next chapter, Mitch McConnell, via statement. So I stand before you today ... to say that this will be my last term as Republican leader of the Senate, Mitch McConnell, via statement. While McConnell will no longer serve as the Senate's Republican leader, he will complete his term, "albeit from a different seat in the chamber," he said. That term ends in January 2027. President Biden, 81, commented on the development. I’ve trusted him and we have a great relationship. We fight like hell. But he has never, never, never misrepresented anything, President Joe Biden, via statement. According to McConnell's aides, the announcement was not related to health issues. As I have been thinking about when I would deliver some news to the Senate, I always imagined a moment when I had total clarity and peace about the sunset of my work, Mitch McConnell, via statement. A moment when I am certain I have helped preserve the ideals I so strongly believe. It arrived today, Mitch McConnell, via statement

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