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Trang chủ » Negotiators scrutinize key issues as debt ceiling deadline comes under question.

Negotiators scrutinize key issues as debt ceiling deadline comes under question.

Debt ceiling deadline questioned as negotiators zero in on key issues

Debt ceiling deadline questioned as negotiators zero in on key issues

House Republicans Express Doubt Over June 1 Deadline to Avoid Default

A significant group of House Republicans has raised questions about the accuracy of the Treasury Department’s June 1 deadline to avoid a potential U.S. debt default. House Majority Leader Rep. Steve Scalise said at a news conference on Tuesday that Republicans would like “to see more transparency on how they come to that date.” He also noted that Treasury Secretary Janet Yellen’s latest comments, out Monday, “implied that it’s June 1, or later, giving some openness to the idea that June 1 may not be the so-called X-date.”

Yellen released a new letter to congressional leaders on Monday that appeared to say the opposite of what Scalise claimed, specifically omitting a line from a previous letter about how extraordinary measures could buy the United States more time to avoid defaulting on its debt. A Treasury spokesperson declined to comment.

House Speaker Kevin McCarthy has not questioned Yellen’s timeline and on Tuesday his office reaffirmed in a new release that the deadline for talks is June 1. “President Biden now has just 9 days to get serious and strike a responsible agreement to raise the debt limit immediately,” read the release.

Meanwhile, debt ceiling negotiators prepared to narrow their focus to a smaller group of key issues that were ripe for compromise, an encouraging development with just nine days left before the U.S. faced the serious risk of a potentially catastrophic national debt default. The issues still on the table including reforms to energy permitting, new work requirements for some forms of federal aid and the redistribution of unused Covid-19 emergency funds. “Health savings,” could also include reforms to how much the government pays health-care companies under several major federal health insurance plans.

FAQs:

What is the Treasury Department’s June 1 deadline to avoid a potential U.S. debt default?

The Treasury Department has set June 1 as the deadline for avoiding a potential U.S. debt default, meaning that the United States government must raise its borrowing limit or face the risk of not being able to pay its bills.

Why are House Republicans questioning the accuracy of the June 1 deadline?

House Republicans have expressed doubt about the accuracy of the Treasury Department’s deadline and would like to see more transparency on how the date of June 1 was determined.

What kind of compromises are being discussed to avoid the debt default?

Debt ceiling negotiators have been focusing on a smaller group of issues that are ripe for compromise, including reforms to energy permitting, new work requirements for some forms of federal aid, the redistribution of unused Covid-19 emergency funds, and “health savings” which may include reforms to how much the government pays health-care companies under several major federal health insurance plans.

What will happen if the U.S. defaults on its debt?

If the United States defaults on its debt, it could face severe consequences including a downgrade in credit rating, a potential recession, and a loss of confidence in U.S. financial markets.

Debt ceiling deadline questioned as negotiators zero in on key issues
Debt ceiling deadline questioned as negotiators zero in on key issues

Questions raised about debt ceiling deadline as negotiators focus on crucial issues

Republican lawmakers in the US House of Representatives have expressed doubts about the accuracy of the Treasury Department’s June 1 deadline to avoid a possible debt default. House Majority Leader Steve Scalise said on Tuesday that there needed to be more transparency about how the date was arrived at. While Scalise claimed that Treasury Secretary Janet Yellen had suggested that the deadline might not be so-called “X-date,” her latest letter to congressional leaders appeared to omit a line from a previous letter addressing extraordinary measures that could buy more time to avoid a default. House Speaker Kevin McCarthy has not questioned Yellen’s timeline and his office reaffirmed on Tuesday that the deadline for talks was June 1. Negotiators are preparing to narrow their focus to key issues ripe for compromise.

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