The Latest Breaking News from Kevin McCarthy

House Speaker Kevin McCarthy said that negotiators on the federal debt limit may reach an agreement in principle as soon as this weekend and that he expects his chamber to consider a deal by next week.

Lawmakers from both parties suggested negotiators were making progress Thursday toward a bipartisan deal that would raise the debt limit.

June S&P 500 futures (ESM23) are up +0.08%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.15% this morning after three major U.S. benchmark indices rallied on Wednesday as hopes of a deal to raise the U.S. debt limit and a jump in regional bank stocks boosted risk appetite.

Santos faces a potential expulsion vote in the House

‘New Yorkers need better!’

Work requirements for federal aid programs have emerged as a sticking point in ongoing negotiations over raising the nation’s debt ceiling, and President Joe Biden has signaled openness to a possible compromise even as many in his party have balked

President Joe Biden and House Speaker Kevin McCarthy are turning to a select group of negotiators to help broker a deal to increase the nation’s borrowing authority and avoid the economic carnage that would ensue if a deal is not reached soon

The House voted Wednesday to refer to the Ethics Committee a Democrat-led resolution to expel indicted New York GOP Rep. George Santos.

Experts say a default would be catastrophic for US economy, but political standoff has persisted as deadline looms.