
___ House to try suspending cap on borrowing authority next week WASHINGTON (AP) — House Democrats said Friday they planned to take action next week to suspend the cap on the government’s borrowing authority. At the same time, the White House ratcheted up pressure on Republicans by warning state and local governments that severe cuts lie ahead if the measure fails in the Senate. Senate Republican Leader Mitch McConnell has said Republicans won’t vote to raise the debt limit and so Democrats must act on their own.
Main Idea: House Democrats plan to move next week to suspend the federal debt limit, while Senate Republicans say they will not back a raise and the White House warns of deep cuts if the effort fails.
Key Points:
If Congress fails to raise the debt limit, the federal government could face payment delays, cuts, or market stress that may hurt taxpayers, workers, and small businesses.
A quick deal would reduce the risk of disruption and give households and investors more certainty.
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Central political group taking the key action to suspend the debt limit.
Named political leader whose opposition is central to the debt-limit fight.
Federal agency tied to the advisory panel decision on COVID-19 booster doses.
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