Debt ceiling
Congressional Roundup: SD delegation unanimous in support for debt limit deal
South Dakota’s three members of Congress expressed varying levels of enthusiasm for the deal to avert a default on the national debt, which all three voted for this week. Rep. Dusty Johnson was featured in an NPR story Thursday that credited “low-key lawmakers” like him for getting the bill through the House of Representatives. Johnson […]
U.S. Senate sends Biden debt limit legislation ahead of Monday default deadline
WASHINGTON — The bipartisan debt limit bill is on its way to President Joe Biden after the U.S. Senate voted Thursday to clear the measure for his signature. The 63-36 vote followed several amendment votes, all of which were rejected. Biden is expected to quickly sign the package, preventing a default on the debt that […]
U.S. House approves debt limit package, sending it to Senate days before default deadline
WASHINGTON — The U.S. House took a broadly bipartisan vote Wednesday night on the debt limit package, sending it to the U.S. Senate where lawmakers are expected to vote quickly to clear the measure. The bill would suspend the nation’s borrowing limit through Jan. 1, 2025 and set caps on discretionary spending for two years. […]
Slower growth, sluggish borrowing expected to impact South Dakota economy
Higher interest rates, inflation, a cooling housing sector and a dip in consumer spending are expected to slow economic growth in South Dakota, according to the state Bureau of Finance and Management. The agency’s projections for two years of lower growth in the state came during Wednesday’s meeting of the Governor’s Council of Economic Advisers. […]
New work requirements for some SNAP recipients included in debt limit deal
WASHINGTON — The holiday weekend debt ceiling deal struck by President Joe Biden and House Speaker Kevin McCarthy preserves in part new work requirements for some food stamp recipients but now with exceptions for certain populations, including veterans. The agreement released late Saturday night showed concessions from both sides — from GOP members, who wanted […]
Debt limit deal hits turbulence in Congress as leaders prep for vote
WASHINGTON — Congress began moving the bipartisan debt limit package forward Tuesday, though frustrations with provisions in the bill could make for narrow passage in the U.S. House and U.S. Senate. Conservative Republicans and progressive Democrats both aired their disappointment with the agreement forged over the weekend, but only GOP lawmakers are looking to possibly […]
Biden, McCarthy say they have brokered a debt limit deal to avert U.S. default
WASHINGTON — House Speaker Kevin McCarthy announced a deal in principle Saturday night that would stave off a first-ever default on the nation’s debt as long as it can clear both chambers of Congress before June 5. The agreement would address the nation’s debt limit and include a “historic” reduction in spending, McCarthy said, though […]
Treasury secretary pinpoints June 5 as earliest date for U.S. debt default
WASHINGTON — Republicans in Congress and the Biden administration have until at least June 5 to broker and enact a debt limit bill under new estimates from the Treasury Department, giving negotiators a few more days before the country would default. “Based on the most recent available data, we now estimate that Treasury will have […]
Progressives try to persuade Biden to use the 14th Amendment to resolve debt crisis
WASHINGTON — Progressives are pushing hard for President Joe Biden to take the unprecedented step of invoking the 14th Amendment as a way to avoid financial calamity if the White House and House Speaker Kevin McCarthy do not strike a deal on the debt ceiling in the coming days. The lawmakers and legal scholars argue […]
Biden says he’s offered $1 trillion in spending cuts but GOP won’t budge on debt limit
WASHINGTON — President Joe Biden said Sunday his administration has offered $1 trillion in spending cuts as part of the ongoing talks with Republicans around a budget agreement, but he said no deal has yet been reached. Biden, speaking from Japan during a press conference following the G7 summit, said his administration wants House Speaker […]
Overhaul federal permitting as part of the debt limit deal? Not as easy as it sounds.
Congressional leaders negotiating a deal to avoid a catastrophic default on the nation’s debt are talking about including an overhaul of how the federal government reviews projects for their environmental impact. There is bipartisan support for changes to the lengthy environmental approval process among climate-minded Democrats eager to speed construction of renewable energy projects, as […]
Biden vows debt ceiling talks will continue while he’s overseas at G7 summit
WASHINGTON — President Joe Biden will remain in “constant contact” with debt ceiling negotiators and promised to update the nation Sunday upon his return from a shortened trip to Asia for the G7 economic summit. Biden delivered brief remarks Wednesday before departing on a scheduled trip to Japan that will no longer include stops in […]