Debt ceiling talks and the 14th Amendment: Updates and perspectives.
The ongoing US debt ceiling talks between President Biden and House Speaker Kevin McCarthy have yet to yield a deal, but potential areas of compromise are emerging. These include limits on federal spending and Democratic openness to clawing back unspent money from COVID relief bills. Energy permitting reform is also on the table, with the White House seeing an opportunity to make a deal on the complex issue. However, there are still disagreements on where cuts should fall and some proposals, such as work requirements on low-income Americans and reversing funding for the IRS, are unlikely to gain traction. Despite the short timeline, there is some optimism that leaders are beginning to think about what a deal could look like.