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The Latest Breaking News from Patrick McHenry

'Shrink the room:' How Biden and McCarthy struck a debt-limit deal and staved off a catastrophe

Perhaps most critical to locking up the debt-limit deal were President Joe Biden and House Speaker Kevin McCarthy’s five handpicked negotiators, three men and two women unknown to most outside government

The Independent UK

Biden says debt ceiling deal 'very close.' Here's why it remains elusive

The Treasury estimates the country could default on its loans early next month. But negotiators are still hashing out key provisions like whether to expand work requirements for federal assistance.

WEKU

Debt ceiling deal within sight as Biden and Republicans continue to negotiate

House adjourned for holiday weekend, but lawmakers could be recalled to vote on deal if agreement is reached

The Guardian - US

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Debt default 'X-date' calculations aim to figure out when the US may run short of cash

For all the concern over when the government might run out of money to cover all its bills, it turns out that no one can be absolutely sure exactly when the country faces a potential default — the dreaded “X-date.”

The Independent UK

Look who's talking: Biden goes quiet in debt-limit talks, while McCarthy can't stop chatting

President Joe Biden has made a deliberate decision to go quiet as his team gets down to the wire in the debt-limit talks, according to White House officials

The Independent UK

Low-key Louisiana lawmaker tapped to help lead GOP debt negotiations

Rep. Garret Graves was critical in helping Kevin McCarthy get the votes to be elected speaker. Now, he's taking the lead at the negotiating table on how to avoid a historic debt default.

WEKU

Debt ceiling talks aren't going well. Here's where they stand

House Republicans insist there's a gulf between them and the White House on key areas on how to resolve the looming debt ceiling deadline.

WEKU

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McCarthy, Rep. Graves signal impasse in White House debt talks

WASHINGTON — Speaker Kevin McCarthy left the U.S. Capitol late Tuesday afternoon saying the two parties had yet to reach a deal to avert a first-ever U.S. default, and a top lieutenant said there are no more meetings planned.

Tribune News Service

Debt ceiling talks grind on, but Republicans say there's a 'lack of urgency' from White House

Debt ceiling negotiators for President Joe Biden and House Speaker Kevin McCarthy are holed up again at the Capitol

The Independent UK

Biden and McCarthy call debt talks 'productive,' but no deal

Washington (AFP) - A top US Republican and President Joe Biden on Monday both said their first one-on-one talks in months to avert a calamitous debt default were "productive," but that disagreements were still blocking any potential deal.

AFP

Biden and McCarthy resume talks as US debt ceiling deadline looms

Their meeting comes as US Treasury Secretary Janet Yellen issues third letter in three weeks, warning of a June default.

Al Jazeera

Debt-limit talks productive ahead of Biden meeting, McCarthy says

House Speaker Kevin McCarthy said debt-limit discussions Monday morning with White House negotiators were productive ahead of a planned meeting later in the day with President Joe Biden.

Tribune News Service

US capital quiet as debt ceiling deadline nears

Negotiators in the US capital say they are not sure when new meetings will take place as the country nears a debt ceiling deadline.

The New Daily

US debt limit meetings on hold, McCarthy says talks are ‘so-so’

U.S. debt limit negotiators aren’t planning to meet on Saturday, according to people with knowledge of the matter, as the White House accused Republicans of being unwilling to negotiate.

Tribune News Service

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Tribune News Service

Debt limit talks resume after optimism curbed by GOP walkout

WASHINGTON — Negotiators resumed talks Friday night to avert a catastrophic U.S. default hours after a Republican walk-out punctured optimism that a debt-limit deal was near and drove down stocks.

Tribune News Service

McCarthy, Schumer eye debt-limit votes ahead of June 1 deadline

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.

The Independent UK

Housing advocates warn GOP spending plan would be 'disastrous'

Housing advocates are raising the alarm about House Republicans’ plan to dramatically cut the federal deficit to raise the debt ceiling

WEKU

Biden and congressional leaders met about the debt limit. They'll talk again on Friday

The government could run out of money to pay its bills as soon as June 1. President Biden said talks were "productive" though Speaker Kevin McCarthy said "I didn't see any new movement."

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Barchart

The Winds of Change Could be Blowing Cryptos Way

The implosion of Terra Luna and its stablecoin UST caused massive financial losses for lending protocols and led to increased regulatory scrutiny and political opposition, but there are advocates in Congress pushing for digital assets and consumer choice, and recent stabilization in the crypto industry suggests a new uptrend for…

Fortune

Stablecoin legislation punted again as Republicans and Democrats butt heads: ‘We’re starting from scratch’

A bipartisan hearing devolved into uncertainty over regulation for the volatile sector.

Reason

Unlock the Cannabis Industry for Financial Institutions

Financial institutions have been locked out of the cannabis industry because of a surveillance regime that appears to have done little to stop real criminals.

Fortune

House committee chair blasts SEC’s Gensler on defining Ether: ‘You won’t answer my question, and you’re the head of that agency’

The chair of the House Financial Services Committee and the chair of the SEC still do not agree on Ether—or how that lack of agreement affects markets.

Los Angeles Times

Michael Hiltzik: How Trump's frenzy of deregulation killed Silicon Valley Bank

Late in 2018, two Trump-appointed banking regulators, Federal Reserve Vice Chair Randal Quarles and FDIC Chair Jelena McWilliams, went on a nationwide tour to meet with regional bank examiners.

Tribune News Service

Fed’s Barr acknowledges oversight lapses before SVB failure

The Federal Reserve’s top bank regulator on Wednesday said that supervisors could have done more to keep tabs on Silicon Valley Bank before it collapsed earlier this month.

The Independent UK

Bank failures and rescue test Yellen's decades of experience

Treasury Secretary Janet Yellen worked against the clock with other regulators, lawmakers and business leaders to come up with a plan that would prevent a full blown banking crisis

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