McCarthy’s concession for speakership is now haunting him in debt limit talks.

Debt Ceiling Talks Complicated by Kevin McCarthy’s Deal-Making

House Speaker Kevin McCarthy‘s (R-CA) deal-making to earn himself the gavel earlier this year could complicate debt limit talks.

McCarthy agreed to a rule allowing members to have at least 72 hours to read legislation before voting on it, but with eight days left until the debt ceiling “X-date,” that policy is shrinking the window for making a deal. And Republicans don’t appear ready to let him back away from his agreement.

Republicans Stand Firm on 72-Hour Rule

• Leadership could move to waive the rule if needed, but many members don’t have any interest in changing their minds on a hard-fought concession from McCarthy.
• “There’s no wiggle room on that as far as I’m concerned,” Rep. Byron Donalds (R-FL) said, per Axios. “The House has a responsibility to make sure the American people have a chance to read the bill, and we’re going to make that happen.”

Treasury Secretary Janet Yellen has repeatedly pegged June 1 as the deadline for when the government will run out of all the cash needed to pay its bills. Once that threshold is breached, the Treasury will have to make “hard choices,” stoking fears of a default.

Some Republicans, such as Rep. Matt Gaetz (R-FL), have questioned how rigid the timeline is. Co-chairs of the bipartisan Problem Solvers Caucus even hinted there may be some flexibility over the precise “X-date,” but numerous projections have suggested it is fast approaching.

Debt ceiling negotiators reconvened Tuesday and still appear to be far apart, particularly on the matter of spending caps. President Joe Biden and McCarthy met Monday in a session the speaker described as “productive.”

Liberals Fear White House Concessions

• Meanwhile, numerous liberals aren’t happy with the state of deliberations, fearing the White House will make too many concessions.
• “I think there would be a huge backlash from our entire House Democratic caucus … but also in the streets,” Rep. Pramila Jayapal (D-WA), chairwoman of the Congressional Progressive Caucus, told reporters. “It’s important that we don’t take steps back from the very strong agenda that the president himself shepherded and led over the past two years.”

As the debt ceiling talks unfold, the Senate is adjourned for recess, but Majority Leader Chuck Schumer (D-NY) indicated it could reconvene on short notice if there’s a breakthrough.

McCarthy emerged as speaker after a historically rare 15 votes. The debt ceiling scuffle marks the first major test of his speakership since winning the gavel. Negotiations are expected to continue throughout the week.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

BIDEN’S OTHER CONSTITUTIONAL CRISIS: STUDENT LOANS CANCELLATION IN LIMBO

*As an Amazon Associate I earn from qualifying purchases