2023-01-24 22:02:13

McConnell says any debt ceiling solution will come from McCarthy and Biden

Logo CBS News
CBS News
By Kathryn Watson

Senate Minority Leader Mitch McConnell said Tuesday that any "solution" to the debt ceiling will have to come from both fellow Republican House Speaker Kevin McCarthy and President Joe Biden.

McConnell made that comment to reporters Tuesday as Treasury Secretary Janet Yellen warns the federal government has hit the debt limit and only has a few months before a potentially dangerous default. Some House Republicans, including McCarthy, have made it clear they don't want to increase the debt ceiling without significant spending cuts.

"I can't imagine any kind of debt ceiling measure that could pass the Senate would also pass the House," McConnell said. "So even though the debt ceiling could originate in either the House or the Senate, in this current situation, the debt ceiling fix, if there is one or how it's to be dealt with, will have to come out of the House."

Continue read on cbsnews.com

Logo Bloomberg
PoliticsBy Laura Litvan2023-01-24 20:24:50
Senate Republican Leader Mitch McConnell says it’s up to President Joe Biden and House Speaker Kevin McCarthy to avert a catastrophic debt default later this...

Logo POLITICO
PoliticsBy Burgess Everett2023-01-24 00:14:05
Senate Republicans are happy to leave the hard work on averting a cataclysmic debt default this year to the Houses new speaker. After Kevin McCarthy whacked...

Logo WJXT
PoliticsBy Lisa Mascaro2023-01-24 05:09:42
WASHINGTON The debate around raising the debt ceiling sounds eerily similar: Newly elected House Republicans, eager to confront the Democratic president in...

Logo WJXT
PoliticsBy Lisa Mascaro And Seung Min Kim2023-01-24 20:31:29
WASHINGTON President Joe Biden is hosting the Democratic congressional leaders Tuesday at the White House as they face a new era of divided government in...

Logo Bloomberg
PoliticsBy Billy House2023-01-24 18:02:07
Financial Services Committee Chairman Patrick McHenry on Tuesday privately warned fellow House Republican leaders to be reasonable and realistic as they...

Logo U.S. News & World Report
PoliticsBy Kaia Hubbard2023-01-20 22:14:47
House Speaker Kevin McCarthy on Friday agreed to meet with President Joe Biden to address the debt ceiling amid heightened economic concerns as the...

Logo Bloomberg
PoliticsBy Erik Wasson2023-01-20 17:07:07
Speaker Kevin McCarthy’s push to use the threat of a catastrophic debt default to extract spending cuts from Democrats risks being undermined by his fellow...

Logo FiveThirtyEight
PoliticsBy Five Thirty Eight2023-01-23 23:13:49
FiveThirtyEight More: Apple Podcasts | ESPN App | RSS Last week showed the diversity of challenges House Speaker Kevin McCarthy will be faced with as the...

Logo Benzinga
PoliticsBy Bhavik Nair2023-01-24 04:56:41
California Democrat Rep. Ro Khanna (D-CA) has reportedly said the U.S. will not default on its debt but the Biden administration might have to act...

Logo CBS News
PoliticsBy Kathryn Watson2023-01-20 21:37:00
House Speaker Kevin McCarthy confirmed that he has an accepted an invitation from President Biden to meet and discuss a solution to addressing the debt...

Logo Bloomberg
PoliticsBy Laura Litvan2023-01-19 21:36:56
Senate Republican leader Mitch McConnell dismissed concerns about the US government defaulting on its obligations later this year, when the Treasury...

Logo Fortune
Business / FinanceBy Josh Boak2023-01-24 19:22:39
The government is running on borrowed time until lawmakers from both parties can come to an agreement.

Logo Fortune
Business / FinanceBy Lisa Mascaro2023-01-24 11:51:03
Negotiations over the debt ceiling consumed Washington in 2011, ahigh-stakes showdownbetween the Obama White House and the new generation of tea party House...

Logo POLITICO
PoliticsBy Jordain Carney2023-01-24 00:59:23
Speaker Kevin McCarthy awarded his group of detractors another powerful perch: The ability to influence nearly everything that will come to the House floor....

Logo Bloomberg
PoliticsBy Chris Anstey2023-01-24 17:08:24
Treasury Secretary Janet Yellen advised Congress that her department is deploying an additional accounting maneuver to avert breaching the federal debt...

Logo WJXT
PoliticsBy Seung Min Kim2023-01-21 01:41:15
WASHINGTON The White House said Friday that President Joe Biden looks forward to sitting down with new House Speaker Kevin McCarthy to discuss a range of...

Logo Bloomberg
PoliticsBy Laura Litvan2023-01-23 21:27:51
Senate Majority Leader Chuck Schumer dared House Republicans to propose and vote on the deep spending cuts they demand in exchange for lifting the debt...

Logo Bloomberg
PoliticsBy Mackenzie Hawkins2023-01-24 00:39:21
The US will not default on its debt but the Biden administration might be forced to take unilateral action to head off a crisis, Representative Ro Khanna, a...

Logo CBS News
PoliticsBy Robert Costa2023-01-23 22:17:03
Rep. Ro Khanna of California, a leading progressive Democrat, said Monday that centrist Democrats could pose the biggest political threat to President Joe...

Logo CNBC
Business / FinanceBy Lorie Konish2023-01-23 20:51:23
Key Points As Democrats and Republicans negotiate over the nation's debt ceiling, some worry changes to Social Security benefits could be on the line. Sen....