The U.S. has surpassed its $31.4 trillion debt limit, leading the Treasury Department to implement extraordinary measures.
Treasury Secretary Janet Yellen notified Congressional leadership Thursday morning that she would begin implementing stopgap options to keep the government funded and avoid default. However, she has stressed the measures can only be used for a limited amount of time, likely through June.
Yellen has said it’s critical Congress act in a timely manner, warning that failure to address the debt ceiling would cause irreparable harm to the U.S. economy.
"I respectfully urge Congress to act promptly to protect the full faith and credit of the United States," Yellen wrote in Thursday’s letter to congressional leaders.
Republicans, led by House Speaker Kevin McCarthy, are looking to use the additional time to negotiate with Democrats; they are hoping to cut spending in exchange for raising the debt ceiling. But, Democrats are so far refusing to make concessions.
"It is something that should be done without concessions. We should not be negotiating around it," White House Press Secretary Karine Jean-Pierre told reporters Wednesday. "It is the basic duty of Congress to get that done."
A Texas judge on Thursday granted a pregnant woman permission to obtain an abortion in an unprecedented challenge to the state’s ban that took effect after Roe v. Wade was overturned last year.
House members voted again Thursday to punish one of their own, targeting Democratic Rep. Jamaal Bowman for triggering a fire alarm in one of the U.S. Capitol office buildings in September when the chamber was in session.
A Nevada grand jury indicted six Republicans who submitted certificates to Congress falsely declaring Donald Trump as the winner of the 2020 presidential race.
But even as he lashed Republicans for their stance, Biden stressed that he is willing to “make significant compromises on the border,” if that’s what it takes to get the package through Congress.
