Debt Ceiling News
Debt Ceiling ! What Is It Good For?
Congress is once again debating whether to raise the debt ceiling, a legal limitation on how much the government can borrow to pay debts to which it has already committed. But what is the debt ceiling, anyway? And do we really need it? Here are...
Trump's Treasury Secretary Pick Steven Mnuchin Says Tax Laws Have to Be 'Simpler and More Effective'
Steven Mnuchin, President-elect Donald Trump’s pick for Treasury secretary, faced tough questioning at his confirmation hearing today, as members of the Senate Finance Committee grilled him on his role in IndyMac, the failed bank that was seized by the U.S. government, and his stance on sanctions.
The Note: Marco's Moment
NOTABLES --RUBIO DEFLECTS ATTACKS ON PERSONAL FINANCES: Republican presidential candidate Marco Rubio defended himself today against attacks over his personal finances, ABC's RYAN STRUYK and INES DELACUETARA note. "I only have one debt in the world, which is my mortgage on a home for me and my
Mary Bruce is the congressional correspondent for ABC News based in Washington D.C . and contributes to all ABC News programs and platforms including “Good Morning America,” “World News Tonight with David Muir,” “Nightline” and ABC News Digital. Bruce recently served as a multi-platform reporter
Senate Passes Budget Bill, Sends to White House
The Senate has passed a bipartisan budget plan that averts the debt ceiling and sets funding levels for the next two years, 64 votes to 35. The bill now heads to President Obama’s desk, where he is expected to sign it ahead of Tuesday’s debt ceiling deadline. The budget plan suspends the debt
Rand Paul's Budget Deal 'Filibuster' Lasts Less Than 20 Minutes
Sen. Rand Paul ’s so-called “filibuster” against the budget deal, a move his campaign hyped repeatedly and which the Kentucky senator used as a rallying cry at last night’s debate, wasn’t a filibuster at all. In fact, it wasn’t even a long speech. The presidential hopeful took to the Senate floor
New House Speaker Paul Ryan Pledges to Fix 'Broken' House
New Speaker Paul Ryan pledged today to fix the "broken" House of Representatives after winning the leadership election, promising to work with rank-and-file members, committee chairs and Democrats to legislate in the lower chamber. "The House is broken,” the Wisconsin Republican said. “We’re not
What to Expect in Tonight's GOP Debate: Granderson, Dowd, Weigh In
It’s the third GOP Debate in as many months, but things have changed since September’s gathering in Simi Valley. For the first time, Donald Trump finds himself slipping in the polls. Jeb Bush , who seemingly had an aura of inevitability surrounding him 6 months ago, is visibly struggling. ABC News
What You Need To Know About the Budget Deal
Officials in Congress and the White House have reached a deal that sets spending levels for the next two years and raises the debt ceiling , averting a U.S. government default and lessening the odds of a government shutdown in December. Congress could vote on the deal as early as Wednesday. Its
Budget Deal Between Congress, White House Coming Into Focus
Congressional leaders were confident enough in the broad outlines of a potential budget deal with the White House to update House and Senate members Monday night -– but some conservatives voiced concern over some of the details of the still-developing plan. The proposed deal, which would lower the