US Republicans have not yet firmed up the parameters of a 2023 budget. Read more at straitstimes.com.
WASHINGTON - President Joe Biden will release his proposed budget on March 9, the White House said on Tuesday, setting a deadline before his meeting with the Republican House Speaker on Wednesday to discuss the nation’s spending.
Mr McCarthy and his fellow conservatives, who narrowly won control of the House of Representatives in November, are threatening to block a regular increase of the nation’s debt limit unless Mr Biden pledges lower spending. The White House has seized on the lack of consensus to highlight fringe proposals from some Republicans, including one that abolishes the Internal Revenue Service in favour of a higher sales tax, and one that trims Social Security retirement benefits.
Mr McCarthy responded with an admonition to Mr Biden to not rule out negotiations before their White House meeting.
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