McCarthy Confirms Congress Will Meet Debt Ceiling Deadline On June 5

House Speaker Kevin McCarthy (R-Calif.) stated Saturday that Congress would meet the deadline to increase the debt ceiling, recognizing that no agreement has been reached but assuring that one will be called in time to avoid a federal default.

On Friday, Treasury Secretary Janet Yellen increased the stakes in the lengthy talks by announcing the first absolute deadline for when the government cannot pay off all of its obligations: June 5.

McCarthy didn’t hesitate when asked if Congress could fulfill that deadline.

“Yes,” he declared immediately after arriving at the Capitol for another round of discussions on Saturday morning.

McCarthy vowed to stick to the 72-hour norm, which gives lawmakers three days to examine the text of legislation before voting on it and said he’s been in talks with Senate leaders about how much time they’ll need to meet the June 5 deadline.

“Everyone will be unhappy with the agreement’s conclusion… on both sides,” he said. “However… at the end of the day, I believe people should see what that product is before voting on it.”

If an agreement is achieved on Saturday, it will pave the way for a House vote on Tuesday, he said.

McCarthy refuses to name the remaining roadblocks as he and his colleagues haggle with White House officials over the last remaining points of contention.

However, he stated that Republicans had not abandoned their desire for permitting reform, which is intended to remove regulatory barriers to energy infrastructure projects and has been opposed by Democrats for fear of degrading the environment at the expense of impoverished areas.

“We made progress; we worked until early this morning.” “Somethings we just have to finish,” he explained.

McCarthy also revealed that Republicans have been in talks with Sen. Kyrsten Sinema (I-Ariz.) and moderate Democrats on specific topics, a scenario sure to enrage liberals, some of whom will be required to push any deal past the House.

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“I know we talk to the White House frequently, but there are Democrats, including Joe Manchin, Kyrsten Sinema, Josh Gottheimer, and others.” When attempting to address a problem, we also get ideas from them,” McCarthy explained. “There are Democrats who are policy experts in certain areas that we’re dealing with; we want to hear from them as well.”

The Speaker explained the implementation of any agreement, saying he would make a broad announcement but withhold specifics to allow parliamentarians to read the legislation before the press and public.

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“I think it’s disrespectful that they find out about it elsewhere,” he remarked.

McCarthy predicted that the bundle will be “150 pages or less.” “It will not be a long bill,” he said.

Whatever solution emerges will almost certainly be rejected by many members of both parties: conservatives who believe it does not cut far enough and liberals who believe it cuts too deeply. McCarthy acknowledged such dynamics but said he is not concerned that it will not receive bipartisan support.

“If your idea is to put a bill on the floor but you don’t want anyone to read it and you want it to pass because you’re afraid they won’t like it,” he added. “I’m not concerned about what’s in this bill.”

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