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House Republicans questioning June 1 default date |
Some House Republicans are questioning Treasury Secretary Janet Yellen's projection that the U.S. could fail to meet its obligations as early as June 1 without a debt limit increase. And doubt about the date is paired with doubt about the urgency of compromising with Democrats to arrive at a deal. Yellen repeated Monday in a letter to House Speaker Kevin McCarthy (R-Calif.) it's "highly likely" the U.S. will not meet its obligations "by early June, and potentially as early as June 1." "Yellen first highlighted June 1 as a possible default date in a May 1 letter that caught some members of Congress by surprise and sparked negotiations between President Biden and McCarthy," The Hill's Emily Brooks wrote. "I don't know why we accept that," House Freedom Caucus Chairman Scott Perry (R-Pa.) said of the date. "We haven't seen her work. We haven't seen any figures." He mentioned quarterly tax revenues are coming in June and said, "There's absolutely no reason to do this, and we all know it." The Congressional Budget Office released a report earlier this month estimating a "significant risk" of default within the first two weeks of June if no deal is reached, adding that quarterly tax receipts along with other measures could extend the default deadline if the country makes it to June 15. McCarthy is taking the June 1 warning seriously and has said the GOP will need to compromise with President Biden to reach a deal. Negotiations are mainly taking place between McCarthy's and Biden's camps. Meanwhile, Senate Minority Leader Mitch McConnell (R-Ky.) called for calm, saying, "I think everybody needs to relax" and reiterating his belief that the country won't default. He said the current situation is "not that unusual" and is "almost entirely required when you have divided government." Read more from Brooks here |
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Welcome to Evening Report! I'm Amee LaTour, catching you up from the afternoon and what's coming tomorrow. Not on the list? Subscribe here. |
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Florida Gov. Ron DeSantis (R) is expected to announce a presidential run Wednesday evening during a Twitter Spaces livestream with Twitter CEO Elon Musk, according to multiple reports.
New data from the Centers for Disease Control and Prevention show the rate of new HIV infections in the U.S. dropped between 2017 and 2021, though the progress is not on track to meet a federal initiative's goal of reducing new infections by 90 percent by 2030.
Former President Trump's trial in the hush money case in Manhattan is scheduled to begin March 25, 2024.
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FHFA director defends mortgage pricing updates
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At a House Financial Services Committee hearing, Federal Housing Finance Administration Director Sandra Thompson argued against the criticism that the agency's new mortgage pricing penalizes borrowers with good credit. Thompson said that "even with reduced fees, borrowers with lower credit scores, and lower down payments will continue to pay higher overall mortgage costs than borrowers with higher credit scores and higher down payments." Read more about the fee change here. |
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Bipartisan immigration bill announced
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Reps. María Elvira Salazar (R-Fla.) and Veronica Escobar (D-Texas) announced an immigration proposal seeking to increase legal pathways to citizenship, enhance border security and boost job training for Americans. For undocumented workers with no criminal record, the bill would establish "'dignity status,' allowing them to work anywhere and travel abroad freely," The Hill's Rebecca Beitsch wrote. "They must pay $700 in fees a year for seven years ... while under the status." Those fees would go toward funding border security. "Meanwhile, their payroll taxes will drop from 7 percent to 1.5, as they will not be charged for contributing to U.S. government programs for which they are not eligible. ... The 1.5 percent tax will fund the worker training." The bill would also establish humanitarian campuses for those seeking asylum at the border and cap the case determination process at 60 days. Read more about the immigration proposal here |
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The Department of Homeland Security's new body camera policy
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Department of Homeland Security Secretary Alejandro Mayorkas announced the first department-wide policy requiring its law enforcement officers and agents to wear body cameras in certain settings. |
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Lake's last election challenge dismissed
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Unsuccessful Arizona gubernatorial candidate Kari Lake's last legal challenge of her election loss has been dismissed, with a judge ruling she didn't prove that Maricopa County didn't verify signatures on mail-in ballots. |
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Surgeon general issues advisory on youth and social media
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Surgeon General Vivek Murthy issued an advisory saying social media use may be harmful to young people's mental health, while also acknowledging some benefits. Murthy told The Hill that "we're in the middle of a youth mental health crisis" and pointed to a possible link between time spent on social media and depression and anxiety. Read more here |
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"How old federal buildings can become new paths to ending homelessness" — Antonia Fasanelli, executive director of the National Homelessness Law Center, and Stockton Williams, executive director of the National Council of State Housing Agencies. (Read here) "A new Twitter policy cripples journalists' efforts to halt disinformation" — Shannon Jankowski, program director for journalism and disinformation at PEN America. (Read here) |
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532 days until the presidential election. |
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10 a.m.: The House Oversight and Accountability Subcommittee on Economic Growth, Energy Policy, and Regulatory Affairs holds a hearing called "Consumer Choice on the Backburner: Examining the Biden Administration's Regulatory Assault on Americans' Gas Stoves." 2 p.m.: The House Oversight and Accountability Subcommittee on Health Care and Financial Services holds a hearing called "A Failure of Supervision: Bank Failures and The San Francisco Federal Reserve." |
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There a story you think should be getting more attention? Something people should be talking about? Drop me a line: ALaTour@thehill.com | |
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