Biden press conference today8/27/2023 GOP lawmakers are also seeking cuts in IRS money and, by sparing Defense and Veterans accounts from reductions, would shift the bulk of spending reductions to other federal programs. But Democrats have said any changes to work requirements for government aid recipients are nonstarters. The GOP additionally introduced new cuts to food aid by restricting states’ ability to waive work requirements in places with high joblessness. Republicans also want work requirements on the Medicaid health care program, though the Biden administration has countered that millions of people could lose coverage. The White House wants a two-year budget deal.Ī compromise on those topline spending levels would enable McCarthy to deliver for conservatives, while not being so severe that it would chase off the Democratic votes that would be needed in the divided Congress to pass any bill. Republicans initially sought to impose spending caps for 10 years, though the latest proposal narrowed that to about six. Republicans want to roll back next year’s spending to 2022 levels, but the White House has proposed keeping 2024 the same as it is now, in the 2023 budget year. McCarthy has insisted personally in his conversations with Biden that tax hikes are off the table GOP lawmakers have been holding tight to demands for sharper spending cuts with caps on future spending, rejecting the alternatives proposed by the White House that call for reducing deficits in part with new revenue from taxes. “Now it’s time for the other side to move from their extreme position,” he said. We have to spend less money than we spent last year.”Įarlier, Biden used his concluding news conference in Hiroshima, Japan, to say he had done his part by agreeing to spending cuts and to warn, “It’s time for Republicans to accept that there is no deal to be made solely, solely, on their partisan terms.” McCarthy, R-Calif., told reporters earlier Sunday that the call with Biden was “productive,” and Biden told a press conference before departing from Japan: “I think that we can reach an agreement.”īut McCarthy said, “I’ve been very clear to him from the very beginning. “We’ll keep working,” said Steve Ricchetti, counselor to the president, as the White House team exited talks late Sunday. McCarthy and President Joe Biden are set to meet in the afternoon at the White House about raising the debt limit. Speaker of the House Kevin McCarthy, R-Calif., top second from right, is encircled by reporters as he talks about the debt limit negotiations at the Capitol in Washington, Monday, May 22, 2023. ![]() Financial markets turned down last week after talks stalled. The call revived talks, and negotiators met for 2 1/2 hours at the Capitol late Sunday evening, saying little as they left. “It went well, we’ll talk tomorrow,” Biden said in response to a shouted question upon his return late Sunday. McHenry added, “with a divided government, everyone knows there are trade-offs.”īiden and McCarthy spoke by phone Sunday while the president was returning home on Air Force One after the Group of Seven summit in Japan. Three hours later, McHenry told reporters: “We’re at a very sensitive point here, and the goal is to get something that can be legislated into law.” “We know the deadline, we know the challenge,” said McHenry, who is also chairman of the House Financial Services Committee, as he entered the morning session. ![]() Steve Ricchetti, counselor to the president and a top negotiator for President Joe Biden on the debt limit crisis, center, and Shalanda Young, director of the Office of Management and Budget, right, arrive at the Capitol, Monday, May 22, 2023, on Capitol Hill in Washington.
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