President Biden and Speaker Kevin McCarthy are meeting late Monday to discuss the debt limit negotiations as some signs of progress were starting to emerge.
House Speaker Kevin McCarthy gave reporters an update on debt limit negotiations on Monday afternoon, hours before he’s expected to meet with President Biden to try to hash out a deal., as both sides have agreed as part of the talks to claw back excess COVID pandemic funding that hasn't been spent, sources told Fox News Digital.
Another area of agreement so far is to include permitting reform in the agreement, something that members of both parties have said is needed to allow for faster approval of energy projects. According to sources familiar with the talks, the two sides are also discussing other possible areas of agreement, including the tax rate on so-called "carried interest," which is investment manager income that is taxed at a lower capital gains rate rather than regular income. But it's not clear that idea can be included, as Republicans have made it clear they want to reduce the budget deficit with spending cuts rather than tax increases.
Carried interest has also been a sticking point for Democrats and progressive tax lobbyists. The provision was part of Biden’s Inflation Reduction Act but was removed when it
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
White House issues veto threat against GOP plan to scrap student loan forgivenessThe White House issued a veto threat against a GOP-backed resolution to scrap the administration's student loan forgiveness plan.
Read more »
White House backs GOP bill to classify fentanyl as Schedule I substanceThe White House announced Monday it supports a Republican-led bill that would place all fentanyl-related substances under the most dangerous classification of drugs.
Read more »
President Biden, House Speaker McCarthy to meet at White House over debt ceilingThe meeting Monday between the president and the new Republican speaker will be a race to prevent the looming debt crisis. There are 10 days until a potential default.
Read more »
House GOP budget chair says ‘We’ve done our job,’ as debt ceiling talks crumbleHouse Budget Committee Chairman Jodey Arrington said Sunday the ball is in President Biden’s court when it comes to raising the debt ceiling and avoiding default amid broken-down negotiations.
Read more »
LARRY KUDLOW: The GOP House has the only plan to raise the debt ceilingFOX Business host Larry Kudlow weighs in on debt ceiling negotiations between President Joe Biden and Congress on Monday's 'Kudlow' monologue.
Read more »
Analysis | House GOP chairman links his investigation to Biden’s poll numbersAnalysis: “The media is realizing the American people are keeping up with our investigation,” Rep. James Comer Jr. (R-Ky.) said on Fox News. The comments were reminiscent of McCarthy’s controversial remarks in 2015 as he was pitching himself for speaker.
Read more »