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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...

President Joe Biden and House Speaker Kevin McCarthy will meet Monday afternoon with just 10 days to reach a debt ceiling deal or risk an unprecedented default. President Joe Biden and House Speaker Kevin McCarthy will meet Monday afternoon in the Oval Office to directly negotiate with just 10 days to reach a debt ceiling and spending deal or risk an unprecedented default . In the meantime, White House negotiators arrived back on Capitol Hill early Monday and met for nearly three hours with Republican mediators. Rep. Patrick McHenry, R-N.C., told ABC News there are currently no additional meetings on Capitol Hill scheduled for the day, but said he wanted talks this week to be productive. "I don't think there's any interest in us delaying these tough conversations," McHenry said, declining to discuss specifics of where the talks stand. "And so we want this to be productive. I want this to be a productive week." Time is running out for a compromise. Treasu...

He also told ABC News "we can still finish this by June 1st." In a closed-door meeting with House Republicans Tuesday morning, Speaker Kevin McCarthy told his conference he and the White House are "nowhere a deal" on the debt limit and spending , urging members to hold firm, sources told ABC News. "I need you all to hang with me on the debt limit," McCarthy told members in the room, according to sources. "We are nowhere near a deal yet." He spoke with nine days to go until the June 1 "X-date," when Treasury Secretary Janet Yellen has warned the government might risk default. On Monday, she stepped up that warning in a letter to congressional leaders, calling it "highly likely" the Treasury will run out of money in early June. Working against that deadline, after meeting with President Joe Biden at the White House Monday, McCarthy called the talks "productive" not "progress." On his way back into the Capitol...

House Speaker Kevin McCarthy, ahead of a critical vote, made the case Friday for advancing a short-term funding bill to avert a government shutdown. House Republicans on Friday passed a rule that will allow for debate and vote on their short-term funding bill as Saturday night's shutdown deadline looms. The procedural vote passed 218-210, prompting Republican applause in the chamber. The House will now debate the bill with a vote on final passage expected Friday afternoon. However, several Republicans -- including Matt Rosendale, Matt Gaetz, Eli Crane, Dan Bishop and Tim Burchett -- told ABC News they will vote against the continuing resolution later. House Speaker Kevin McCarthy, earlier Friday morning, played up the border security provisions being added to the stopgap measure to keep the government open until Oct. 31. "Every member will have to go on record on where they stand," McCarthy said at a press conference. "Are they willing to secure the border or do they...

U.S. Capitol Police are investigating after a fire alarm was triggered in a congressional office building on Saturday before the House vote on a stopgap spending bill. U.S. Capitol Police are investigating after a fire alarm was trigger ed in a congressional office building before the House of Representatives voted on a stopgap spending bill as a government shutdown looms. Rep. Jamaal Bowman, D-N.Y., admitted to pulling the alarm in the Cannon House Office Building -- though told ABC News the incident was an " innocent mistake ." "I was rushing to make a vote," Bowman said. "I didn't know it would trigger the whole building," he added. Bowman said he thought the alarm -- which is red and says "FIRE" in capital letters -- would open the door he typically uses to get from his office building to the Capitol for votes. ABC News obtained a screenshot of a Capitol security video showing Rep. Jamaal Bowman, D-N.Y., pulling the fire alarm on Sep...

Ukrainian President Volodymyr Zelenskyy arrived in Washington on Thursday to make the case for continued aid amid a showdown between House Republicans on spending. Ukrainian President Volodymyr Zelenskyy came to Washington on Thursday to make the case for $24 billion more in U.S. aid tied up in a showdown between House Republicans over spending . Zelenskyy's first stop was Capitol Hill, where he was lobbying lawmakers behind closed doors. The Ukrainian leader, wearing Military green fatigues, was escorted by House Democratic leader Hakeem Jeffries and later flanked by Senate Majority Leader Chuck Schumer and Senate Minority Leader Mitch McConnell on their way to a meeting in the Old Senate chamber. The aid he's pushing for was requested by President Joe Biden, and he, many congressional Republicans and most Democrats call it vital to Ukraine's efforts to repel Russia's invasion. Ukrainian President Volodymyr Zelenskyy is welcomed to the Capitol in Washington, D.C., ...