Debt
“He should be here, on the Hill, working with Republicans and Democrats to strike some sort of a compromise," the South Carolina Republican said.
A planned second big negotiation meeting was postponed as the calendar begins to bite.
If the U.S. defaults on debt, we could see a rise in mortgage rates, credit card interest and loans. So why don't Republicans seem concerned?
House Speaker Kevin McCarthy insists it will be voted on this week, but a narrow House Republican margin leaves no room for error.
WHAT'S HAPPENING
House Speaker Kevin McCarthy will have to find a way to win over these default doubters to leverage GOP demands.
The GOP House Speaker could provide some clarity and give details on Republicans’ plan to do something on their own without Biden.
It's more likely to happen later in the summer, they say, but the Treasury may find out in April that there are only weeks left to act.
The brief remarks come ahead of President Joe Biden’s annual State of the Union speech Tuesday.
The Treasury Department says it has started taking “extraordinary measures” as the government has brushed up against its legal borrowing capacity of $38.381 trillion.
The outgoing House Budget chairman said bypassing the issue in the lame duck period is akin to giving Republicans “a legislative nuclear weapon.”