GOP Rejects White House Proposals in Debt Talks, Threatening Border Security.

The White House proposed closing tax loopholes to reduce the deficit during negotiations with Republican congressional leadership over the federal budget and the debt ceiling, but every item was rejected by GOP negotiators. The proposals included measures aimed at cryptocurrency transactions and large real estate investors. The budget agreement under discussion could include new limits on federal spending, a clawback of unspent pandemic aid funds, and permitting reforms for domestic energy production. The GOP's rejection of the White House tax proposals reflects the near-unanimous opposition among congressional Republicans to using higher revenue to rein in the federal debt.