The Latest Breaking News from Chip Roy

HONG KONG: Asian markets sank on Wednesday on worries that hardline Republicans could vote down a crucial bill to hike the US borrowing limit and risk a catastrophic default that could hammer an already fragile global economy.

WASHINGTON: A deal to raise the US debt ceiling passed its first major test in Congress on Tuesday, surviving a crucial procedural vote amid a conservative backlash that resurrected the threat of the country's first-ever default.

McCarthy, who struck a compromise deal to avoid a debt default, faces criticism from members of his own conference and a potential threat that could oust him as speaker. He says his job is secure.

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

The Kentucky GOP lawmaker appeared to keep lawmakers’ efforts to avoid a debt default as soon as June 5 on track.

Lawmakers are scrambling to push through Biden-McCarthy deal by 5 June to avoid default disaster – what is the process?

Conservatives and fiscal hawks say the bill doesn't cut spending enough.

Some conservative Republicans and progressive Democrats have criticized the deal.

House GOP leaders released the legislative text of their deal with the White House to suspend the debt ceiling until 2025.