The U.S. is on track to reach its roughly $31.4 trillion borrowing limit this month, prompting a call from the White House for swift action from the newly split Congress. House Republicans have grappled with how to address the debt limit as they adjust to the new GOP majority this month. Treasury Secretary Janet Yellen shared the new estimated debt limit date of Jan. 19 in a letter to House Speaker Kevin McCarthy (R-Calif.) on Friday. She also warned the Treasury would have to begin taking "extraordinary measures" to stave off a default to buy time for Congress to find a bipartisan solution. "Failure to meet the government's obligations would cause irreparable harm to the US economy, the livelihoods of all Americans, and global financial stability," she wrote. Under pressure from conservatives in his party, McCarthy has sought that any debt ceiling moves be tied to spending cuts. The White House, meanwhile, is asking that the debt limit be raised without conditions. "We believe, when it comes to the debt limit, it has been done in a bipartisan way over the years and decades. And it should be done in a bipartisan way. And it should be done without conditions. That is important here," press secretary Karine Jean-Pierre told reporters Friday. Read more here. More from The Hill: |
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Welcome to The Hill's Evening Report, catching you up on news from the afternoon and looking at the big stories likely to impact tomorrow. |
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🗣️ Biden to give State of the Union on Feb. 7, after McCarthy invitation
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President Biden has accepted Speaker Kevin McCarthy's (R-Calif.) invititation to deliver his State of the Union address to a joint session of Congress on Feb. 7. |
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🌪️ At least 8 dead as tornadoes rip through Southeast
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At least eight people have died after severe storms and dozens of tornadoes swept the Southeast. |
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🎒 Backpack was searched prior to shooting by Virginia 6-year-old
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A 6-year-old boy who allegedly shot his first grade teacher last week in Virginia had his backpack searched prior to the shooting, but no weapon was found, according to local station WAVY-TV. |
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| ✍️ Kellyanne Conway in NYT op-ed: A 'fool's errand' to write off Trump
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Former Trump adviser Kellyanne Conway argues in a new op-ed that it would be "a fool's errand" to write off the former president in the 2024 election, even as he faces criminal investigations and low poll numbers and other Republicans mull entering the race. |
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💰 Trump Organization fined $1.6M in tax fraud case
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The Trump Organization was ordered to pay $1.6 million in fines on Friday, following its conviction last month for criminal tax fraud. |
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🏛️ 16 Michigan GOP electors sued over falsely claiming Trump won
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A number of Michigan GOP electors have been named in a lawsuit after they falsely declared in official documents that former President Trump won the 2020 presidential election. |
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📺 House GOP flocks to cable news as new majority takes center stage
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More and more House Republicans are showing up on cable news as the party settles into its majority in the chamber. |
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🤒 Biden admin touts coverage gains ahead of ObamaCare deadline
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The Department of Health and Human Services has reported significant gains in health insurance coverage across numerous demographics in 2021, two days before the enrollment deadline for ObamaCare. |
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🧑⚖️ Bannon wants to change lawyers in wall building fraud case
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Former Trump adviser Stephen Bannon has asked to change his representation in the fraud case over the "We Build the Wall" funding campaign. |
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🍎 Tim Cook to take 40 percent Apple pay cut in 2023
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Apple CEO Tim Cook plans to take a 40 percent pay cut in 2023 compared to his total compensation from last year. |
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👚 Missouri House adopts new dress code for women
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The Missouri House of Representatives is backing legislation that would restrict female lawmakers' attire — calling for women to cover their arms. |
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🗳️ Iowa official's wife charged with voter fraud in 2020 election
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A local Iowa official's wife has been charged with committing voter fraud during the 2020 election, when her husband was on the ballot. |
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'Extending SNAP support should be a no-brainer in this economy'
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"SNAP is the most important tool we have in combatting America's hunger crisis. But over the years, its inclusion in the farm bill has been at the center of an ugly tug-of-war between two fiercely divided parties on Capitol Hill," writes Lyndon Haviland of CUNY School of Public Health and Health Policy. |
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