Debt Ceiling Talks Resume

“Republicans and the White House resumed debt ceiling talks on Friday evening after frustrated GOP negotiators hit pause for much of the day,” The Hill reports.

“But a key Republican negotiator is not confident about coming to an agreement this weekend, which Speaker Kevin McCarthy (R-CA) has said has to happen to allow legislation to pass through the House and Senate by June 1, the day Treasury Secretary Janet Yellen said the U.S. could default by.”

Punchbowl News: “The dispute here, broadly speaking, is that Republicans want to revert spending to FY2022 levels and Democrats want to freeze current spending, according to sources. The gap between those two positions is more than $100 billion this year alone.”