Both sides raced to strike an agreement that would resolve the looming debt crisis ahead of a June 5 deadline and avert a catastrophic U.S. default.
By LISA MASCARO, MARY CLARE JALONICK, ZEKE MILLER and KEVIN FREKING
House Speaker Kevin McCarthy of Calif., speaks with members of the press about debt limit negotiations Saturday, May 27, 2023, on Capitol Hill in Washington. House Speaker Kevin McCarthy of Calif., speaks with members of the press about debt limit negotiations Saturday, May 27, 2023, on Capitol Hill in Washington. The Republican House speaker gathered top allies behind closed doors at the Capitol as negotiators pushed for a deal that would raise the nation’s borrowing limit and avoid a first-ever default on the federal debt, while also making spending cuts that House Republicans are demanding.
But as another day dragged on with the country watching and waiting for an outcome, it appeared some of the problems over policy issues that have dogged talks all week remained unresolved. Americans and the world were uneasily watching the negotiating brinkmanship that could throw the U.S. economy into chaos and sap world confidence in the nation’s leadership. House negotiators left the Capitol at 2 a.m. the night before, only to return hours later.
All sides also are hearing from other lawmakers, including Sen. Kyrsten Sinema, the independent from Arizona, who has been in the center of big policy debates, and Rep. Josh Gottheimer, D-N.J., of the bipartisan Problem Solvers Caucus. “We’re constantly in touch with our members, letting them know that what is being reported, you should not accept that,” Emmer said. “If there’s an agreement, we will let them know.”
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