05/19/2023

Debt Limit Talks in Standstill as GOP, White House Reach Impasse

They face a looming deadline as soon as June 1

Debt limit talks came to an abrupt standstill Friday after Republican House Speaker Kevin McCarthy said it's time to “pause” negotiations, and a White House official acknowledged there are “real differences” making further discussions difficult.

McCarthy said resolution to the standoff is “easy,” if only Democratic President Joe Biden's team would agree to some spending cuts Republicans are demanding. Democrats staunchly oppose the steep reductions Republicans have put on the table as potentially harmful to Americans.

It is unclear when negotiations would resume, though talks could pick up again over the weekend.

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