WASHINGTON — A House budget resolution will be delayed in part to allow for negotiations with President Joe Biden on a debt limit increase paired with some sort of concessions on spending and other policies acceptable to Republicans, according to House Budget Chairman Jodey C. Arrington.
But that raises an interesting chicken-or-egg question for the two parties. Biden says he won’t negotiate at all over the debt ceiling, and even if he were to agree to talk about fiscal policy, it won’t be until Republicans produce their own budget blueprint.
There are several months left to figure something out. The Congressional Budget Office and other analysts say lawmakers and the White House have until sometime between June and September to figure out a debt limit resolution or the economy could tip right over into recession.
