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Speaker McCarthy said the House will soon vote on debt ceiling legislation, calls for Biden to negotiate rather than “bumble into” default at the New York Stock Exchange In a speech at the New York Stock Exchange on Monday, Speaker Kevin McCarthy said House Republicans will vote in "the coming weeks" on legislation to raise the debt ceiling for one year but tied to spending cuts. He continued to blame President Joe Biden for not negotiating and accused him of "misleading the public." "I want to talk to you about the debate that's not happening in Washington but should be happening over our national debt. It's a debate that directly affects the lives of every American," McCarthy said. His latest salvo in the showdown comes as White House has warned that, if House Republicans fail to pass a debt ceiling increase by this summer with no budget cuts attached, it would create financial chaos in world markets. McCarthy said a $31 trillion debt is "t...

The plan would rescind COVID-19, IRS money and block student debt forgiveness. House Speaker Kevin McCarthy on Wednesday unveiled a long-awaited GOP proposal to lift the debt limit and enact federal spending cuts. Speaking on the House floor, McCarthy outlined what's included in the so-called Limit, Save, Grow Act, designed to raise the debt limit into next year and also provide more than $4.5 trillion in savings. "The American people have elected a divided government, and our government is a divine compromise," McCarthy said. "That is why the House, the Senate and the White House should be negotiating a responsible debt limit increase right now." Speaker of the House Kevin McCarthy speaks in New York City, April 17, 2023. Brendan Mcdermid/Reuters, FILE The legislation would claw back unspent COVID-19 money, block federal student loan cancellation, rescind billions of dollars for the Internal Revenue Service provided by the Inflation Reduction Act, end gr...

What happened and when has prompted concerns about how the incident was handled. The chain of events set off by an unresponsive plane that eventually crashed Sunday in Virginia continues to raise questions about what happened on board and how the incident was handled. Six fighter jets were scrambled on the afternoon of June 4 to try to intercept the private Cessna jet, originally on a flight from Tennessee to New York, as it encroached on restricted airspace around Washington D.C. The plane eventually went down in a mountainous area of Virginia, killing all four people on board. But because the fighter jets weren't launched until long after the plane first went unresponsive, and after it turned around in New York without landing, it's unclear why NORAD waited to intercept the plane until it was about 20 miles northeast of the nation's capital. MORE: F-16s scrambled 1.5 hours after contact lost with unresponsive jet that veered to DC White House spokesman John Kirby dec...

By shunting Kevin McCarthy, eight GOP lawmakers led by Matt Gaetz demoted one of the party's most dogged fundraisers just as Republicans work to protect their majority House Republicans are rudderless in Washington as they search for a new leader -- leaving one half of Congress in the lurch and freezing key legislative Business -- but the political ripple effects of former Speaker Kevin McCarthy's ouster this week could stretch far beyond Capitol Hill. By shunting McCarthy, eight GOP lawmakers led by hard-liner Rep. Matt Gaetz of Florida demoted one of the party's most dogged fundraisers just as Republicans are preparing to protect their five-seat majority next year -- including several swing-seat incumbents in places like California and New York, where McCarthy was credited by Republicans with beefing up donations and recruitment. "We won in places no one thought we could win," McCarthy said on Tuesday night, in remarks to reporters shortly after losing his s...