.POTUS has become increasingly vocal about Republicans declining to discuss taxes during debt ceiling negotiations. But SpeakerMcCarthy has declared tax increases a red line, attributing the country's deficits to overspending and not a lack of revenue.
But House Speaker Kevin McCarthy has declared tax increases a red line, attributing the country's deficits to overspending and not a lack of revenue, 10 days before a potential default.Republican Study Committee Chairman Kevin Hern , whose group has 176 lawmakers as members, underscored that tax hikes are"a nonstarter" for a bipartisan debt ceiling deal.
“It’s a wild strategy to insist on a clean debt limit, refuse to negotiate for months, and then at the last minute ask for something so completely absurd and tone-deaf," the source said."The Biden administration is clearly not taking this seriously.” "We do have disagreements," McCarthy replied."We have a 50-year average [where] we're having more revenue than at any time coming in."
Biden expressed frustration over the lack of debt ceiling tax negotiations, particularly closing the carried interest loophole, during a post-Group of Seven leaders meeting press conference in Japan, a trip that was cut short due to the default talks.
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