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Negotiators are trying to make progress on a handful of outstanding issues – in addition to how to cut federal spending, which remains a key sticking point. And it’s complicated.”Īsked by CNN if spending levels have been resolved, McHenry said: “Nothing is resolved.” Patrick McHenry, a lead GOP negotiator on debt limit talks, told reporters on Thursday, “We still have fundamental disagreements we have to resolve. In another indication of how far apart the two sides remain, Rep. Republicans have done everything they can.” “We passed a bill in April, long before they ever said the deadline was June 1. “There is a bill that has passed the House that sits in the Senate,” he told CNN’s Manu Raju. Instead, he pointed to the GOP House-passed debt bill, despite Senate Majority Leader Chuck Schumer saying that he won’t bring it to the Senate floor. Speaker Kevin McCarthy on Thursday would not guarantee that a deal will pass by June 1, which the Treasury Department has warned could be the earliest possible “X” date for missing debt payments. With no bill to vote on, House lawmakers are leaving for the Memorial Day weekend, though they will be given 24 hours’ notice to return if and when a deal is reached.Įach day that passes without a bipartisan deal to raise the debt ceiling brings the nation closer to default, which could be catastrophic for the global economy and have financial effects on countless Americans. A debt limit deal is still not yet close at hand for House Republicans and the White House as lawmakers leave the nation’s capital and the risk of a first-ever default grows.

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