![]() And while Biden has said the debt limit is not negotiable, he will have to see what spending cuts or other concessions his party may have an appetite for. They only control one chamber in this divided government scenario. So their opening bid here in these talks marks leverage for Republicans to start these conversations. It cleared the chamber by a vote of 217-215 - so a reminder of the tight margins there, even on a partisan wish list bill. GRISALES: So House Republicans, in their debt limit bill, that marked one of their biggest tests yet for McCarthy as speaker. What challenges would they face in reaching some accommodation? So going into this, we are not expecting a major breakthrough today on a permanent deal. It claws back Biden initiatives and unspent funds from bills such as the pandemic relief aid.Īnd to illustrate how far apart these two sides are, Democrats have dubbed this bill the Default on America Act, calling it a ransom note to the American people. And that legislation includes significant cuts in government spending over the next several years. It's also the first since House Republicans passed a bill that they dubbed the Limit, Save, Grow Act, which would raise the debt ceiling by 1.5 trillion or until March of next year, whichever happens first. And it's going to be the first conversation for this group - the first joint conversation - since this fight over the debt limit got underway. GRISALES: So Biden and McCarthy will join Senate Majority Leader Chuck Schumer, Senate Minority Leader Mitch McConnell and House Democratic Leader Hakeem Jeffries for this 4 p.m. INSKEEP: Who all's attending this meeting? Claudia, good morning.ĬLAUDIA GRISALES, BYLINE: Good morning, Steve. INSKEEP: NPR's Claudia Grisales is covering the story. If he's not willing to do that, he doesn't have as much leverage, I think, as some Democrats hope. JULIAN ZELIZER: The problem is if Republicans are willing to go through with this, that means there's a potential for a default unless the president takes extraordinary measures, like using the 14th Amendment to pay for the government's bills. But the analyst Julian Zelizer of Princeton told us the other day that his options are limited. Biden has said he won't negotiate over paying the bills that Congress has passed in the first place. House Republicans have yet to agree to extend federal borrowing authority. The president meets today with congressional leaders, and that includes House Speaker Kevin McCarthy. Will President Biden really negotiate with Republicans over paying the nation's bills?
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