With potential default just six days away, House Speaker Kevin McCarthy tells reporters he remains optimistic despite no deal in hand.
Speaker of the House Kevin McCarthy speaks to reporters about negotiations with the White House over the debt limit as he arrives at the U.S. Capitol in Washington, D.C., May 26, 2023, before the Memorial Day holiday weekend. Secretary of the Treasury Janet Yellen has warned the US could default on its debt as early as June 1, 2023, if Congress fails to raise the debt limit.
Speaker of the House Kevin McCarthy speaks to reporters about negotiations with the White House over the debt limit as he arrives at the U.S. Capitol in Washington, D.C., May 26, 2023, before the Memorial Day holiday weekend. Secretary of the Treasury Janet Yellen has warned the US could default on its debt as early as June 1, 2023, if Congress fails to raise the debt limit.President Joe Biden, too, said progress was being made on Thursday.
Also at issue is potential opposition from the wings of both parties. Several progressive Democrats have expressed frustration too much ground may be conceded to Republicans, whole conservative hardliners with the House Freedom Caucus are encouraging McCarthy to "hold the line" on their spending demands.
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