Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

Debt ceiling negotiators close to a deal, with IRS funding in the spotlight

by
May 26, 2023
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Freddie Mac House Price Index Increased in August to New High; Up 4.0% Year-over-year

Monday: ISM Manufacturing, Construction Spending

U.S. Speaker of the House Kevin McCarthy (R-CA) speaks to members of the media at the U.S. Capitol on May 24, 2023 in Washington, DC.
Kevin Dietsch | Getty Images

WASHINGTON — The White House and congressional negotiators were closing in on a compromise agreement on Friday to raise the debt ceiling for two years, with just six days to go before the nation faces a grave threat of debt default.

In exchange for voting to raise the debt ceiling, House Republicans would achieve at least two of their highest priorities: Rolling back baseline federal spending in 2024 on most discretionary programs and rescinding some of the $80 billion allocated for the Internal Revenue Service as part of 2022’s Inflation Reduction Act, two sources with knowledge of the talks told CNBC.

That rescinded IRS money would then be used to cover much of the shortfall in domestic funding created by the GOP spending cuts, essentially preserving the programs while technically cutting the overall topline figure. The Pentagon and veterans health benefits would be spared from any cuts, and see their funding actually increase next year.

Details were still fluid on Friday morning, with two officials calling the IRS funding trade off “a live issue.”

Spokespeople for House Speaker Kevin McCarthy, President Joe Biden and Senate Majority Leader Chuck Schumer didn’t immediately respond to requests for comment on the emerging outlines.

But on its face, the could offer both parties a win. Republicans could claim, correctly, that they had secured a cut in baseline government spending for fiscal year 2024. Democrats, likewise, could say they preserved the vast majority of domestic programs at funding levels either equal to or just below their current ones.

This is a developing story, please check back for updates.

CNBC Politics

Read more of CNBC’s politics coverage:

What Republicans want in exchange for raising the debt limitTwitter glitches plague Ron DeSantis’ much-hyped presidential announcement with Elon MuskNot just Disney: DeSantis brings history of business battles to the presidential campaign

ShareTweetPin

Related Posts

Freddie Mac House Price Index Increased in August to New High; Up 4.0% Year-over-year

by
October 2, 2023
0

by Calculated Risk on 10/01/2023 10:11:00 AM Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index...

Monday: ISM Manufacturing, Construction Spending

by
October 2, 2023
0

by Calculated Risk on 10/01/2023 07:06:00 PM Weekend: o Schedule for Week of October 1, 2023 Monday: o At 10:00...

These 5 Stocks Are Setting Up This Buying Opportunity After Strong Runs

by
October 1, 2023
0

Post Content

7 Stock Picks You Might Not Have Heard About. Why They’re ‘Best-of-Breed Bisons.’

by
October 1, 2023
0

Here are 7 Stock Picks You Might Not Have Heard About. Why They’re Best-of-Breed Bisons. | Barron's D.A. Davidson, a...

Best China Stocks: These Two Are Flashing Buy Signals Now

by
October 1, 2023
0

Post Content

Next Post

Tech layoffs ravage the teams that fight online misinformation and hate speech

Here are Friday's biggest analyst calls: Apple, Marvell, Microsoft, Target, RH, Costco, Amazon & more

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net