France Faces Political Turmoil Amid Budget Deadlock and Leadership Changes
French Prime Minister Macron sees potential convergence in the final negotiations of the national budget, signaling possible agreement on key fiscal issues.
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Budget Talks
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French PM Confronts Strikes and Budget Crisis Amid Political Turmoil
French Prime Minister Sébastien Lecornu faces massive protests and strikes across key sectors as he seeks support from the Socialists to pass a new budget amid widespread discontent and political instability, with demands including higher taxes on the wealthy and increased social investment.
"Senate Pushes for $95 Billion Ukraine and Israel Funding Despite Budget Challenges"
The U.S. Senate has advanced a $95 billion foreign aid package for Ukraine, Israel, Taiwan, and humanitarian aid in war-torn regions, despite facing an uphill battle as budget negotiations loom. The bill, a stripped-down version of a previous bipartisan funding package, garnered momentum with a 67-32 vote, but still faces challenges as senators begin discussions on amendments. The success of the vote is a hopeful next step for an issue that has been a point of paralysis for budget negotiations, with looming government shutdown deadlines adding pressure.
"Budget Talks Stall, US Faces Looming Shutdown Threat"
Lawmakers in the US are warning that the country is heading for a government shutdown as budget talks stall, raising concerns about the potential impact on various sectors and services.
Debt ceiling deal in the works as default risk looms.
US President Joe Biden and top Republican lawmaker Kevin McCarthy are close to reaching a deal on the US debt ceiling, with the parties just $70 billion apart on discretionary spending. The agreement is expected to be a slimmed-down version with top line numbers for discretionary spending, including a number for military spending, but leaving lawmakers to hammer out the fine details of categories like housing and education through the normal appropriations process in the months ahead. The end result would likely just put guardrails on future budget talks, not spell out detailed spending.
Navigating the Challenges of the Debt Ceiling Debate.
The White House and Republicans have "serious differences" on budget talks and debt ceiling increase, but remain optimistic about reaching a bipartisan agreement. Talks were paused on Friday afternoon as Republicans complained that the White House was being "unreasonable," but resumed Friday evening. Time is of the essence as the Treasury Department has warned the U.S. could default as early as June 1 if Congress does not act to raise the debt ceiling. Republicans seek to cap overall discretionary spending at fiscal year 2022 levels while allowing for 1 percent growth per year for 10 years, but the White House has been messaging hard against that.
New Yorkers Divided on Bail Reform and Taxing the Wealthy Ahead of State Budget Deadline: Poll
A new poll by Siena College shows that 72% of New Yorkers support giving judges more discretion to set bail for those accused of serious crimes. The poll also found that 92% of New Yorkers believe crime is a serious problem statewide, while 65% say the same about their own community. The poll could give Governor Kathy Hochul leverage in budget talks as she pushes for an overhaul to bail reform, despite resistance from the Democratic supermajorities in the state Senate and Assembly. The poll also covered other issues, including affordable housing, flavored tobacco, and healthcare for undocumented immigrants.
NY Democrats prioritize mass transit and hospital funds in budget battle.
Republican legislative leaders in New York are urging Governor Kathy Hochul to fight harder against fellow Democrats in budget talks to overhaul bail reform. The Democratic supermajorities in the state Senate and Assembly rejected her proposal to loosen bail laws to make it easier for judges to impose cash bail on criminal defendants accused of serious offenses. Republicans have pointed to a series of retail thefts and other crimes tied to repeat offenders while arguing that bail reform must get rolled back despite the resistance of Democratic lawmakers.