White House Open to Short Term Debt Limit Hike

Wall Street Journal: “Some Biden administration officials increasingly see a short-term extension of the debt limit until later into the summer as the best-case scenario for an agreement with House Republicans in the coming weeks, barring the GOP dropping its demands entirely. That could allow for further talks over spending, which Democrats acknowledge they would eventually do with Republicans anyway.”

However, Sen. Ted Cruz (R-TX) said a short-term extension “is a solution that the White House has fever dreams of, but it’s not going to pass Congress.”