Biden and McCarthy enter the next phase of their debt ceiling showdown

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Biden and McCarthy enter the next phase of their debt ceiling showdown
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.SpeakerMcCarthy's efforts to broker a debt ceiling deal among House GOP could backfire with only a four-vote majority, jeopardizing negotiations with the White House, the stock market, millions of jobs, and the global financial system.

But McCarthy's efforts to broker a debt ceiling deal among House Republicans could backfire with only a four-vote majority, jeopardizing negotiations with the White House, the stock market, millions of jobs, and the global financial system.House Republican Study Committee Chairman Kevin Hern is"encouraged" by McCarthy's outreach after the speaker spoke on the phone last weekend with his conference about the debt ceiling and then convened an in-person meeting Tuesday.

"A large bloc of members really want to see IRS & IRA included in the final bill," one source familiar said."At conference this morning, there was wide support behind the inclusion of both IRA/IRS, and McCarthy seemed to be willing to have that discussion." McCarthy is seeking a vote on a debt ceiling deal before the House's next recess from April 28. The initial agreement, tentatively whipped by Reps.

"Do you have the support of your party for what you’re actually proposing?” CNBC asked him afterward.

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