The Latest Breaking News from Kevin McCarthy

If Congress fails to raise the debt limit, can President Joe Biden somehow borrow more money to save the United States from default? The short answer is no. But that hasn’t stopped a group of Senate Democrats from urging Biden to act unilaterally by invoking the Fourteenth Amendment.

Lost amid all the attention to the partisan standoff over raising the nation's debt limit is the insanity of a big part of the Republicans' bargaining position: Many of the savings they demand in return for a higher debt ceiling would come from killing the landmark clean energy initiatives President…

John Allan to stand down after allegations of inappropriate behaviour, while latest Sunday Times rich list shows first fall in the number of billionaires since financial crisis

A new poll finds that most U.S. adults say they are highly concerned about the impact on the national economy if the U.S. debt limit is not increased and the government defaults on its loans

"There are going to be a lot of Democrats in a really uncomfortable position."

A group of Democratic Senators plans to urge President Joe Biden to invoke the 14th Amendment to address the debt ceiling crisis.

House Speaker Kevin McCarthy and Senate Majority Leader Chuck Schumer are making plans for votes in the coming days on a bipartisan deal to avert a catastrophic U.S. debt default.

Biden and Congressional aides currently in negotiations while the President is currently attending the G-7 as a recession looms.

Negotiators from the White House met over the debt limit with House Speaker Kevin McCarthy’s emissaries at the Capitol

House Speaker Kevin McCarthy said that negotiators on the federal debt limit may reach an agreement in principle as soon as this weekend and that he expects his chamber to consider a deal by next week.

Lawmakers from both parties suggested negotiators were making progress Thursday toward a bipartisan deal that would raise the debt limit.