US House speaker says Republicans could act on their own on debt ceiling
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US House Speaker Kevin McCarthy says his Republican majority is close to agreement on a plan to tackle the government debt ceiling and address their priorities for lowering spending.
PHOTO: EPA-EFE
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WASHINGTON – US House Speaker Kevin McCarthy said on Thursday that he and other Republican lawmakers could act on their own to address the US$31.4 trillion (S$41.7 trillion) United States government debt ceiling,
Mr Biden, a Democrat, has insisted that he will not negotiate with Republicans who control the House of Representatives until they produce their own fiscal year 2024 spending plan
Mr McCarthy said his Republican majority in the House of Representatives was close to agreement on a plan that would tackle the debt ceiling and address their priorities for lowering spending.
Mr Biden’s Democrats have a slim majority in the US Senate.
“If the President doesn’t act, we will,” Mr McCarthy told reporters at a news conference.
On Tuesday, Mr McCarthy urged Mr Biden in a letter to negotiate on domestic spending, including clawing back unspent Covid-19 relief funds and making other changes Mr McCarthy said would save trillions of dollars.
Mr Biden responded with a letter urging Mr McCarthy to specify his spending proposals. REUTERS
