The Latest Breaking News from Kevin McCarthy

That Republican elders dare not alienate the ex-president’s fanbase shows how fully he has shaped the party in his image

One outcome is clear as Washington reaches for a budget deal to end the debt ceiling standoff: The ambitious COVID era of government spending is giving way to a new focus on stemming deficits

Kevin McCarthy’s chief of staff, Dan Meyer, will retire after a long career in the public and private sectors.

Stock futures higher as inflation risks fade; Tesla shares gain as musk finds new Twitter CEO; Microsoft faces another legal challenge to $69 billion Activision deal; PacWest leads regional banks higher as FDIC unveils new funding and Biden postpones meeting with McCarthy as debt ceiling talks hint progress.

Washington (AFP) - Crunch talks between US President Joe Biden and senior Republicans have been postponed until early next week to allow staff to continue working, the White House said in a statement Thursday. 

Negotiations between the White House and the Republican-led House on raising the debt ceiling are currently at an impasse.

White House and congressional staff will continue to meet, but President Biden and congressional leaders will hold off on their plan to gather on Friday.

A source familiar with the talks between the White House and Congressional leaders said the delay is ‘a positive development’

“Default should be avoided, period," said one Senate Republican.