According to reports, House Speaker Kevin McCarthy stated that the investigation being done by Republican House members into the international business dealings of President Biden's family may qualify as an impeachment inquiry. "When Biden ran for government, he claimed to the public that he had never discussed business. We can demonstrate that what he claimed—that his family had never gotten a dollar from China—is untrue, McCarthy said on Monday on a TV program with Sean Hannity for Fox TV.

US: Republicans corner President Biden ahead of 2024 polls

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<p>US President Joe Biden's son Hunter Biden's troubles continue to mount. House Oversight Committee Chairman James Comer on Wednesday (August 9), released a 19-page memo revealing that Hunter and his business associate received millions in payments from Russian and Kazakhstani oligarchs when Biden Sr served as the country's vice president.&nbsp;</p>

<p>The memo names Russian oligarch Yelena Baturina and Kazakhstani oligarch Kenes Rakishev as well as a Ukrainian energy company, known as Burisma Holdings. According to screenshots of redacted bank records added in the memo, Hunter received millions in payments from all three. Later on, VP Biden attended dinners with Baturina, Rakishev and a representative from Burisma.&nbsp;</p>

<p>"Then-Vice President Biden joined approximately 20 phone calls on speakerphone with Hunter Biden’s foreign business associates and attended dinners with foreign oligarchs who paid huge sums of money to Hunter Biden," the memo reads.&nbsp;</p>

<p>Bank records show that Baturina, the widow of former Moscow Mayor Yury Luzhkov, transferred $3.5 million to Rosemont Seneca Thornton (a company founded by Hunter) on 14 February 2014. Notably, Hunter's longtime business partner Devon Archer confirmed the payment during his interview last week.&nbsp;</p>

<p>Afterwards, a total of $2.7 million was wired to Rosemont Seneca Bohai - another company that Hunter co-owned with Archer.&nbsp;</p>

<p>&nbsp;</p>

<p><a href="https://www.wionews.com/videos/gravitas-did-white-house-influence-hunter-biden-case-607970"><strong>WATCH | Gravitas: Did White House influence Hunter Biden case?</strong></a></p>

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<p>During a press conference, after the release of the memo, Comer said Hunter sold his father and his position as 'the brand' to reap millions from oligarchs.&nbsp;</p>

<p>“During Joe Biden’s vice presidency, Hunter Biden sold him as ‘the brand’ to reap millions from oligarchs in Kazakhstan, Russia, and Ukraine. It appears no real services were provided other than access to the Biden network, including Joe Biden himself," said Comer.</p>

<p><i>"</i>And Hunter Biden seems to have delivered. This is made clear by meals at Café Milano where then-Vice President Joe Biden dined with oligarchs from around the world who had sent money to his son," he added.</p>

<p><a href="https://www.wionews.com/world/hunter-biden-admits-receiving-664k-from-company-backed-by-chinese-communist-party-620344" target="_blank"><strong>Also read | Hunter Biden admits receiving $664K from company backed by Chinese Communist Party</strong></a></p>

<h2><strong>White House refutes the claims&nbsp;</strong></h2>

<p>Despite the revelations by the GOP lawmaker, the White House continues to assert that Comer’s investigation is designed for political purposes. Washington says that GOP is yet to find any evidence that Joe Biden directly profited from his son's foreign business dealings.&nbsp;</p>

<p>“Today House Republicans on the Oversight Committee released another memo full of years-old ‘news,’ innuendo, and misdirection – but notably missing, yet again, is any connection to President Biden," said White House spokesperson Ian Sams.</p>

<p><em>(With inputs from agencies)</em></p>

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<p>&nbsp;</p>


US President Joe Biden's son Hunter Biden's troubles continue to mount. House Oversight Committee Chairman James Comer on Wednesday (August 9), released a 19-page memo revealing that Hunter and his business associate received millions in payments from Russian and Kazakhstani oligarchs when Biden Sr served as the country's vice president.

US President Joe Biden's son Hunter Biden's troubles continue to mount. House Oversight Committee Chairman James Comer on Wednesday (August 9), released a 19-page memo revealing that Hunter and his business associate received millions in payments from Russian and Kazakhstani oligarchs when Biden Sr served as the country's vice president. The memo names Russian oligarch Yelena Baturina and Kazakhstani oligarch Kenes Rakishev as well as a Ukrainian energy company, known as Burisma Holdings. According to screenshots of redacted bank records added in the memo, Hunter received millions in payments from all three. Later on, VP Biden attended dinners with Baturina, Rakishev and a representative from Burisma. "Then-Vice President Biden joined approximately 20 phone calls on speakerphone with Hunter Biden’s foreign business associates and attended dinners with foreign oligarchs who paid huge sums of money to Hunter Biden," the memo reads. Bank records show that Baturina, the widow of former Moscow Mayor Yury Luzhkov, transferred $3.5 million to Rosemont Seneca Thornton (a company founded by Hunter) on 14 February 2014. Notably, Hunter's longtime business partner Devon Archer confirmed the payment during his interview last week. Afterwards, a total of $2.7 million was wired to Rosemont Seneca Bohai - another company that Hunter co-owned with Archer. WATCH | Gravitas: Did White House influence Hunter Biden case? During a press conference, after the release of the memo, Comer said Hunter sold his father and his position as 'the brand' to reap millions from oligarchs. “During Joe Biden’s vice presidency, Hunter Biden sold him as ‘the brand’ to reap millions from oligarchs in Kazakhstan, Russia, and Ukraine. It appears no real services were provided other than access to the Biden network, including Joe Biden himself," said Comer. "And Hunter Biden seems to have delivered. This is made clear by meals at Café Milano where then-Vice President Joe Biden dined with oligarchs from around the world who had sent money to his son," he added. Also read | Hunter Biden admits receiving $664K from company backed by Chinese Communist Party White House refutes the claims Despite the revelations by the GOP lawmaker, the White House continues to assert that Comer’s investigation is designed for political purposes. Washington says that GOP is yet to find any evidence that Joe Biden directly profited from his son's foreign business dealings. “Today House Republicans on the Oversight Committee released another memo full of years-old ‘news,’ innuendo, and misdirection – but notably missing, yet again, is any connection to President Biden," said White House spokesperson Ian Sams. (With inputs from agencies) WATCH WION LIVE HERE:

Hunter Biden sold his father as 'the brand' to oligarchs, House Oversight memo claims

<p>Vivek Ramaswamy, a candidate for Republican presidential nomination, while speaking with WION correspondent Susan Tehrani, said, “The United States needs to re-enter the trade relationships with the allied nations in the Indo-Pacific in order to put ourselves in a position to actually decouple from China.”<br />
<br />
He added that if he gets the opportunity to become the next US president, he will focus on avoiding war with China over Taiwan while still deterring China from going after Taiwan.</p>

<p><strong>ALSO READ |</strong>&nbsp;<a href="https://www.wionews.com/world/bidens-approval-rating-plummets-to-new-low-as-trump-gains-momentum-612215">Biden’s approval rating plummets to new low as Trump gains momentum</a></p>

<p>“If China knows that India is on the US side and pro-Taiwan side respectively, that will erode Chinese President Xi Jinping's confidence in going after Taiwan. A strong India on the side of the US in a rock solid manner will hold China from winning the global semiconductor supply chain starting in Taiwan and will further erode Xi Jinping's confidence,” he said.<br />
<br />
Speaking about the future of US-India relations, Ramaswamy hinted that the two democracies are destined to become natural allies. Calling capitalism as the best system in the world for lifting people up from poverty, he appreciated Indian Prime Minister Narendra Modi for embracing the power of capitalism unapologetically and lifting people from poverty.</p>

<h2><strong>Reviving 'American Dream'</strong></h2>

<p>Talking with WION correspondent Susan Tehrani about his journey and why he decided to get in the race of presidential elections, Ramaswamy said, “I was born in this country; have lived full arc of American Dream. My parents came to this country with almost no money and I went on to create multi-billion dollar biotech companies that have developed life-saving medicines; management firms competing with the largest financial institutions in the world. That's been my version of the American Dream. I don't think that dream is still possible for the next generation of Americans who are taught to think of themselves as a victim of their genetics. I think it'll take my generation of Americans to revive the American Dream.”<br />
<br />
Speaking about his presidential candidature and how it is different from others, Ramaswamy said to WION, “People of my generation and younger, I think many of them don't see themselves as Republicans. Many Americans don't yet really know what they believe. They're stark hungry for a cause, purpose, meaning and identity. This is an opportunity to fill that void of purpose and meaning at the heart of young Americans, that is what I am trying to do in this campaign. I want us talking more about the value of each individual, the family, the nation, the God, the things that used to give us our sense of purpose.”</p>

<p><strong>WATCH |&nbsp;US Elections: Former US VP Pence to announce White House bid</strong></p>

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<p>Speaking about how his candidacy differs from that of Ron Desantis who also rallies against woke ideology, Ramaswamy said, “We are fundamentally different. I think Ron Desantis's vision is to defeat wokeness in America by whacking it and nailing it into the ground; to me, that's not a win. To me winning is to dilute the poison of the woke agenda to irrelevance by offering an alternative vision; a vision that means to be an American today. To me the opposite of being woke is being pro merit &amp; pro-free speech.”<br />
<br />
On not going after former US president Donald Trump, Ramaswamy stated, “As I mentioned earlier, I work on policy differences. That's not my style to shoot down other candidates. I am focused on where we are running as a country rather than criticising other candidates. My focus is on policy differences but that doesn't mean I don't respect the accomplishments of each of them including President Donald Trump as a president.”</p>

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Vivek Ramaswamy, a candidate for Republican presidential nomination, while speaking with WION correspondent Susan Tehrani, said, “The United States needs to re-enter the trade relationships with the allied nations in the Indo-Pacific in order to put ourselves in a position to actually decouple from China.

Vivek Ramaswamy, a candidate for Republican presidential nomination, while speaking with WION correspondent Susan Tehrani, said, “The United States needs to re-enter the trade relationships with the allied nations in the Indo-Pacific in order to put ourselves in a position to actually decouple from China.” He added that if he gets the opportunity to become the next US president, he will focus on avoiding war with China over Taiwan while still deterring China from going after Taiwan. ALSO READ | Biden’s approval rating plummets to new low as Trump gains momentum “If China knows that India is on the US side and pro-Taiwan side respectively, that will erode Chinese President Xi Jinping's confidence in going after Taiwan. A strong India on the side of the US in a rock solid manner will hold China from winning the global semiconductor supply chain starting in Taiwan and will further erode Xi Jinping's confidence,” he said. Speaking about the future of US-India relations, Ramaswamy hinted that the two democracies are destined to become natural allies. Calling capitalism as the best system in the world for lifting people up from poverty, he appreciated Indian Prime Minister Narendra Modi for embracing the power of capitalism unapologetically and lifting people from poverty. Reviving 'American Dream' Talking with WION correspondent Susan Tehrani about his journey and why he decided to get in the race of presidential elections, Ramaswamy said, “I was born in this country; have lived full arc of American Dream. My parents came to this country with almost no money and I went on to create multi-billion dollar biotech companies that have developed life-saving medicines; management firms competing with the largest financial institutions in the world. That's been my version of the American Dream. I don't think that dream is still possible for the next generation of Americans who are taught to think of themselves as a victim of their genetics. I think it'll take my generation of Americans to revive the American Dream.” Speaking about his presidential candidature and how it is different from others, Ramaswamy said to WION, “People of my generation and younger, I think many of them don't see themselves as Republicans. Many Americans don't yet really know what they believe. They're stark hungry for a cause, purpose, meaning and identity. This is an opportunity to fill that void of purpose and meaning at the heart of young Americans, that is what I am trying to do in this campaign. I want us talking more about the value of each individual, the family, the nation, the God, the things that used to give us our sense of purpose.” WATCH | US Elections: Former US VP Pence to announce White House bid Speaking about how his candidacy differs from that of Ron Desantis who also rallies against woke ideology, Ramaswamy said, “We are fundamentally different. I think Ron Desantis's vision is to defeat wokeness in America by whacking it and nailing it into the ground; to me, that's not a win. To me winning is to dilute the poison of the woke agenda to irrelevance by offering an alternative vision; a vision that means to be an American today. To me the opposite of being woke is being pro merit & pro-free speech.” On not going after former US president Donald Trump, Ramaswamy stated, “As I mentioned earlier, I work on policy differences. That's not my style to shoot down other candidates. I am focused on where we are running as a country rather than criticising other candidates. My focus is on policy differences but that doesn't mean I don't respect the accomplishments of each of them including President Donald Trump as a president.” You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

US, allied nations should re-enter trade ties to decouple from China: Vivek Ramaswamy

<p>Former US president Donald Trump entered a plea of not guilty to the 37-count indictment<br />
— marking his second indictment since announcing a 2024 run, and the first time a former president faces federal charges —&nbsp;as he faces allegations of mishandling sensitive government secrets and engaging in scheming to prevent their recovery and&nbsp;return. In a historic event on Tuesday, Trump appeared in a federal court in Miami&nbsp;and surrendered to US Marshals.&nbsp;<br />
<br />
Trump was formally arrested and fingerprinted, but was not put in handcuffs, nor did he have his mugshot taken, given his high profile and low flight and security risks.</p>

<p>On the eve of his 77th birthday, Trump stood before a magistrate judge to officially face 37 charges filed by a special counsel, following an FBI raid on his Florida mansion from where several classified documents — some marked&nbsp;top secret — were recovered. This hearing comes shortly after Trump's denial of state-level financial fraud charges in a separate case in Manhattan. The mounting legal troubles for the former president pose a serious threat to his aspirations of returning to the Oval Office.The US government alleges that Trump violated the Espionage Act and other laws by taking classified documents with him upon leaving office in 2021 and deliberately withholding them from the National Archives. Authorities assert that he conspired to impede investigators and knowingly shared national security secrets with individuals lacking proper clearance.<br />
<br />
Justice Department prosecutors recommended both Nauta and Trump be released without conditions because “the government does not view either defendant as a flight risk.”<br />
Magistrate Judge Jonathan Goodman ordered Trump not to have contact with any witnesses in the case, including his co-defendant Walt Naut.</p>

<h2><strong>Trump greets supporters at restaurant</strong></h2>

<p>After the hearing, Trump made his way to his golf club in Bedminster, New Jersey, to deliver an evening speech and vehemently proclaiming his innocence. But before that, he took a moment to greet his supporters at a Cuban restaurant in Miami's Little Havana. Trump met with his supporters, while he expressed his outrage at the charges, decrying what he sees as a corrupt and declining country.</p>

<p>“A country in decline like never before,” he said. “I think it’s a rigged deal here.”</p>

<h2><strong>No massive gathering of pro-Trump supporters&nbsp;</strong></h2>

<p>Large-scale protests were anticipated in Miami, prompting increased security measures by local authorities. However, only a small gathering of a few dozen Trump supporters showed up near the courthouse.</p>

<p><strong>Watch:&nbsp;Former US President Donald Trump put National Security at risk</strong></p>

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<p>Some attendees wore "Make America Great Again" caps, and one person held a sign calling for the indictment of Jack Smith, the special prosecutor responsible for bringing the charges. Trump himself had previously criticised Smith on his Truth Social network, labelling him a "thug" and a "lunatic."</p>

<h2><strong>Trump enjoys strong backing from Republicans</strong></h2>

<p>The former president enjoys strong support from Republican voters, with 81 per cent of them, according to a recent Ipsos poll, believing that the charges against him are politically motivated. Trump’s lawyer Alina Habba emphasised the dangerous rise of politically driven prosecutors who, in her view, disregard impartiality, due process, and equal protection of the law.&nbsp;</p>

<p><a href="https://www.wionews.com/world/us-ramaswamy-vows-to-pardon-trump-if-elected-dares-opponents-to-do-the-same-604092"><strong>Also read:&nbsp;US: Ramaswamy vows to pardon Trump if elected, dares opponents to do the same</strong></a></p>

<p>Republican leaders in Congress and Trump's rivals within the party vying for the presidential nomination have predominantly focused their attacks on the Justice Department, rather than acknowledging the gravity of the allegations against Trump.<br />
<br />
However, the charges against Trump are grevious, and if convicted, he faces upto 20 years in jail.&nbsp;&nbsp;</p>

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Former US president Donald Trump entered a plea of not guilty to the 37-count indictment — marking his second indictment since announcing a 2024 run, and the first time a former president faces federal charges — as he faces allegations of mishandling sensitive government secrets and engaging in scheming to prevent their recovery and return.

Former US president Donald Trump entered a plea of not guilty to the 37-count indictment — marking his second indictment since announcing a 2024 run, and the first time a former president faces federal charges — as he faces allegations of mishandling sensitive government secrets and engaging in scheming to prevent their recovery and return. In a historic event on Tuesday, Trump appeared in a federal court in Miami and surrendered to US Marshals. Trump was formally arrested and fingerprinted, but was not put in handcuffs, nor did he have his mugshot taken, given his high profile and low flight and security risks. On the eve of his 77th birthday, Trump stood before a magistrate judge to officially face 37 charges filed by a special counsel, following an FBI raid on his Florida mansion from where several classified documents — some marked top secret — were recovered. This hearing comes shortly after Trump's denial of state-level financial fraud charges in a separate case in Manhattan. The mounting legal troubles for the former president pose a serious threat to his aspirations of returning to the Oval Office.The US government alleges that Trump violated the Espionage Act and other laws by taking classified documents with him upon leaving office in 2021 and deliberately withholding them from the National Archives. Authorities assert that he conspired to impede investigators and knowingly shared national security secrets with individuals lacking proper clearance. Justice Department prosecutors recommended both Nauta and Trump be released without conditions because “the government does not view either defendant as a flight risk.” Magistrate Judge Jonathan Goodman ordered Trump not to have contact with any witnesses in the case, including his co-defendant Walt Naut. Trump greets supporters at restaurant After the hearing, Trump made his way to his golf club in Bedminster, New Jersey, to deliver an evening speech and vehemently proclaiming his innocence. But before that, he took a moment to greet his supporters at a Cuban restaurant in Miami's Little Havana. Trump met with his supporters, while he expressed his outrage at the charges, decrying what he sees as a corrupt and declining country. “A country in decline like never before,” he said. “I think it’s a rigged deal here.” No massive gathering of pro-Trump supporters Large-scale protests were anticipated in Miami, prompting increased security measures by local authorities. However, only a small gathering of a few dozen Trump supporters showed up near the courthouse. Watch: Former US President Donald Trump put National Security at risk × Some attendees wore "Make America Great Again" caps, and one person held a sign calling for the indictment of Jack Smith, the special prosecutor responsible for bringing the charges. Trump himself had previously criticised Smith on his Truth Social network, labelling him a "thug" and a "lunatic." Trump enjoys strong backing from Republicans The former president enjoys strong support from Republican voters, with 81 per cent of them, according to a recent Ipsos poll, believing that the charges against him are politically motivated. Trump’s lawyer Alina Habba emphasised the dangerous rise of politically driven prosecutors who, in her view, disregard impartiality, due process, and equal protection of the law. Also read: US: Ramaswamy vows to pardon Trump if elected, dares opponents to do the same Republican leaders in Congress and Trump's rivals within the party vying for the presidential nomination have predominantly focused their attacks on the Justice Department, rather than acknowledging the gravity of the allegations against Trump. However, the charges against Trump are grevious, and if convicted, he faces upto 20 years in jail. WATCH WION LIVE HERE ×

Donald Trump pleads not guilty to 37-count indictment, released without conditions after formal arrest

Here we bring you a quick round-up of all the latest news and top headlines from all across the globe: 'I am innocent man,' says Donald Trump, Republicans slam Donald Trump's indictment, Biden and Sunak sign 'Atlantic Declaration', Flights in US delayed due to Canada Wildfire.

'I am innocent man,' says Donald Trump | Republicans slam Donald Trump's indictment |WION Speed News

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<p>Months of back-and-forth and drama over whether the US will raise the debt ceiling or not are seemingly coming to an end. The US House of Representatives as well as the Senate voted in favour of raising the debt ceiling. After receiving what was largely a bipartisan approval, the&nbsp;legislation is now headed to US President Joe Biden. It is expected that the bill would be approved before the June 5 deadline, also known as the 'X-date'.&nbsp;</p>

<p>But what is the language of the deal? What are the compromises made by both parties and most importantly, what is the debt limit and how did the US come so close to plunging the entire globe into an economic crisis with the spillover effect?&nbsp;</p>

<h2><strong>What is the debt limit?</strong></h2>

<p>A debt limit is the amount of money that the US government can borrow to meet its financial obligations, such as social security, military salaries and Medicare benefits payments.&nbsp;</p>

<p>Congress, earlier this year, extended the statutory debt limit to $31.4 trillion. However, the weak economic fundamentals and overflowing expenditures meant that the US reached precariously close to breaching the limit. Consequently, Congress was engaged in a fierce tussle to raise the limit.&nbsp;</p>

<p>Prior to achieving a breakthrough, even the White House conceded that an actual breach of the US debt ceiling was likely to cause severe damage to the economy.&nbsp;</p>

<p>"If the US government were to default on its obligations - whether to creditors, contractors, or citizens - the economy would quickly shift into reverse, with the depth of the losses a function of how long the breach lasted," said the White House in a statement.&nbsp;</p>

<p><a href="https://www.wionews.com/world/us-house-votes-to-avert-default-passes-debt-ceiling-bill-598957" target="_blank"><strong>Also read | US House passes debt ceiling deal to prevent default, bill heads to Senate for nod before June 5 deadline</strong></a></p>

<h2><strong>What is the text of the bill?</strong></h2>

<p>The deal ensures that USA's borrowing cap is extended till January 2025, which means that&nbsp;it will be a non-issue, at least during the hotly contested US presidential elections&nbsp;scheduled in 2024.&nbsp;</p>

<p>Overall, the Congressional Budget Office projected that the bill would reduce budget deficits by about $1.5 trillion over the next decade.</p>

<h2><strong>Non-defence spending capped</strong></h2>

<p>The bill has capped spending in non-defence areas, such as<strong>&nbsp;</strong>public education and transportation in 2024, before increasing it by one per cent in 2025. According to a CNN report, non-defence discretionary spending for fiscal 2024 will be approximately $704 billion, of which $121 billion would be for veterans' medical care.&nbsp;</p>

<p>Notably, veterans who have been exposed to toxic substances or environmental hazards will receive support under the PACT Act. Though Biden sought $20.3 billion for the toxic exposure fund in his budget, the bill brings it down to nearly $15 billion for fiscal year 2024.</p>

<p><a href="https://www.wionews.com/world/republican-senators-fist-bump-after-tanking-a-healthcare-bill-for-military-veterans-502061"><strong>WATCH: Republican senators fist-bump after tanking a healthcare bill for military veterans</strong></a></p>

<h2><strong>Covid-related fundings rescinded</strong></h2>

<p>According to House GOP lawmakers, the deal ensures that $28 billion in unobligated funds from COVID-19 relief packages, approved by Congress, is rescinded. However, $5 billion in funding would be retained to focus on the development of COVID-19 vaccines and funding for other vaccines and treatments for the uninsured, as well as the Indian Health Service.&nbsp;<br />
<br />
<a href="https://www.wionews.com/videos/us-house-passes-debt-ceiling-deal-bill-heads-to-senate-for-nod-before-june-5-deadline-598960"><strong>WATCH |&nbsp;US House passes debt ceiling deal, bill heads to Senate for nod before June 5 deadline</strong></a></p>

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<p>&nbsp;</p>

<h2><strong>IRS money</strong></h2>

<p>One of the biggest demands of Republicans was to cut down the money allotted to IRS last year by the Democrats to crack down on tax fraud. The bill language states that $1.4 billion in funding has been rescinded. Moreover, over the next two years, $20 billion will be taken away from the IRS and used for funding other non-defence programmes.&nbsp;</p>

<p>Some experts, however, are of the view that the change would increase deficits by $900 million because fewer IRS officers mean less revenue coming into the Treasury.&nbsp;&nbsp;</p>

<h2><strong>Environmental projects&nbsp;</strong></h2>

<p>For the first time in nearly four decades, a single lead agency has been designated to develop and schedule environmental reviews in hopes that it will streamline the lengthy regulatory process. The biggest beneficiary has been the controversial Mountain Valley Pipeline project, brought forward by Senators&nbsp;Joe Manchin and Shelley Moore Capito. Under the bill, all outstanding permit requests&nbsp;concerning the project have been approved.&nbsp;</p>

<h2><strong>Student loans</strong></h2>

<p>Republicans wanting to stop the Biden administration from waiving $10,000 to $20,000 in debt for nearly all student borrowers could not get their way in the bill. Biden, however, agreed to put an end to the pause on student loan repayment. The true test of Biden's resolve regarding the policy will be tested in the Supreme Court where a decision is expected before the end of June.</p>

<p>GOP lawmakers could not get their way to repeal many of the clean energy tax credits Democrats passed in party-line votes last year to boost the production and consumption of clean energy.</p>

<h2><strong>So what's next for the US?</strong></h2>

<p>Congress must ensure that the approved deal reaches President Biden's desk before June 5. After Bidens signs it, the limit is raised and it is business as usual before the cycle repeats in roughly two years' time.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

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Months of back-and-forth and drama over whether the US will raise the debt ceiling or not are seemingly coming to an end. The US House of Representatives as well as the Senate voted in favour of raising the debt ceiling.

Months of back-and-forth and drama over whether the US will raise the debt ceiling or not are seemingly coming to an end. The US House of Representatives as well as the Senate voted in favour of raising the debt ceiling. After receiving what was largely a bipartisan approval, the legislation is now headed to US President Joe Biden. It is expected that the bill would be approved before the June 5 deadline, also known as the 'X-date'. But what is the language of the deal? What are the compromises made by both parties and most importantly, what is the debt limit and how did the US come so close to plunging the entire globe into an economic crisis with the spillover effect? What is the debt limit? A debt limit is the amount of money that the US government can borrow to meet its financial obligations, such as social security, military salaries and Medicare benefits payments. Congress, earlier this year, extended the statutory debt limit to $31.4 trillion. However, the weak economic fundamentals and overflowing expenditures meant that the US reached precariously close to breaching the limit. Consequently, Congress was engaged in a fierce tussle to raise the limit. Prior to achieving a breakthrough, even the White House conceded that an actual breach of the US debt ceiling was likely to cause severe damage to the economy. "If the US government were to default on its obligations - whether to creditors, contractors, or citizens - the economy would quickly shift into reverse, with the depth of the losses a function of how long the breach lasted," said the White House in a statement. Also read | US House passes debt ceiling deal to prevent default, bill heads to Senate for nod before June 5 deadline What is the text of the bill? The deal ensures that USA's borrowing cap is extended till January 2025, which means that it will be a non-issue, at least during the hotly contested US presidential elections scheduled in 2024. Overall, the Congressional Budget Office projected that the bill would reduce budget deficits by about $1.5 trillion over the next decade. Non-defence spending capped The bill has capped spending in non-defence areas, such as public education and transportation in 2024, before increasing it by one per cent in 2025. According to a CNN report, non-defence discretionary spending for fiscal 2024 will be approximately $704 billion, of which $121 billion would be for veterans' medical care. Notably, veterans who have been exposed to toxic substances or environmental hazards will receive support under the PACT Act. Though Biden sought $20.3 billion for the toxic exposure fund in his budget, the bill brings it down to nearly $15 billion for fiscal year 2024. WATCH: Republican senators fist-bump after tanking a healthcare bill for military veterans Covid-related fundings rescinded According to House GOP lawmakers, the deal ensures that $28 billion in unobligated funds from COVID-19 relief packages, approved by Congress, is rescinded. However, $5 billion in funding would be retained to focus on the development of COVID-19 vaccines and funding for other vaccines and treatments for the uninsured, as well as the Indian Health Service. WATCH | US House passes debt ceiling deal, bill heads to Senate for nod before June 5 deadline × IRS money One of the biggest demands of Republicans was to cut down the money allotted to IRS last year by the Democrats to crack down on tax fraud. The bill language states that $1.4 billion in funding has been rescinded. Moreover, over the next two years, $20 billion will be taken away from the IRS and used for funding other non-defence programmes. Some experts, however, are of the view that the change would increase deficits by $900 million because fewer IRS officers mean less revenue coming into the Treasury. Environmental projects For the first time in nearly four decades, a single lead agency has been designated to develop and schedule environmental reviews in hopes that it will streamline the lengthy regulatory process. The biggest beneficiary has been the controversial Mountain Valley Pipeline project, brought forward by Senators Joe Manchin and Shelley Moore Capito. Under the bill, all outstanding permit requests concerning the project have been approved. Student loans Republicans wanting to stop the Biden administration from waiving $10,000 to $20,000 in debt for nearly all student borrowers could not get their way in the bill. Biden, however, agreed to put an end to the pause on student loan repayment. The true test of Biden's resolve regarding the policy will be tested in the Supreme Court where a decision is expected before the end of June. GOP lawmakers could not get their way to repeal many of the clean energy tax credits Democrats passed in party-line votes last year to boost the production and consumption of clean energy. So what's next for the US? Congress must ensure that the approved deal reaches President Biden's desk before June 5. After Bidens signs it, the limit is raised and it is business as usual before the cycle repeats in roughly two years' time. (With inputs from agencies) WATCH WION LIVE HERE:

Explained: What is in the debt ceiling bill passed by US Congress?

<p>After decades of close and harmonious relations, Big Business and the Republican Party and its most hard-line followers are fighting each other on some of the most sensitive fronts of America’s increasingly bizarre culture wars.</p>

<p>Those involved on the side of corporate America are some of the biggest and best-known brands, from Disney, owners of the world’s most popular entertainment parks, to Budweiser, makers of America’s most popular beer, to BlackRock, the multi-national investment firm which is the world’s largest asset manager.</p>

<p>On the opposite front are right-wing Republicans, including three aspirants to the US presidency, who object to corporate policies best known by their acronyms: ESG and DEI. That stands for Environmental, Social and Governance and Diversity, Equity and Inclusion.</p>

<p>How willing Republicans are to break with their traditional allies on Wall Street was thrown into sharp focus in March with the adoption of a bill to prevent retirement fund managers from basing decisions on factors like climate change, the “E” in ESG. The US Senate passed the measure with a 50-46 vote.</p>

<p><a href="https://www.wionews.com/opinions-blogs/how-mickey-mouse-was-drawn-into-americas-culture-wars-591151"><strong>ALSO READ |&nbsp;How Mickey Mouse was drawn into America’s culture wars</strong></a></p>

<p>One critic, Washington Post columnist Dana Milbank, saw the bill as evidence that Republicans, once champions of the free market, had become inspired by Soviet economic planners.</p>

<p>“Republican lawmakers are now telling which businesses they can and can’t invest in – and which investment criteria they will be permitted to consider."</p>

<p>The bill prompted President Joe Biden to issue the first veto of his presidency. “I signed this veto because the legislation passed by Congress would put at risk the retirement savings of individuals across the country,” he explained.</p>

<p>The response, from the speaker of the Republican-dominated House of Representatives, Kevin McCarthy: “President Biden wants to use your hard-earned money not to grow your savings but to fund a far-left political agenda.”</p>

<p>Winning a battle, as Biden did with his veto, does not mean winning the culture wars that go far beyond investment strategies and cover issues as diverse as abortion, education, voting rights, gun laws, school libraries, immigration, and the LGBT community. As far as ESG investment goes, the dark views of hard-line Republicans were spelt out at a hearing of the House Oversight Committee in May by Steve Marshall, the Alabama attorney general and one of two “expert” witnesses.</p>

<p>“An unelected cabal of global elites,” he told the hearing, “have formed alliances to coordinate together to implement woke climate policy….unelected elites are making policy decisions outside of democratic processes.”</p>

<p>That brought to mind a conspiracy theory dating back to the 1970s according to which a cabal of elites are secretly working on a plan to turn the United Nations into the seat of a world government, taking away US sovereignty and enforcing its rule with a fleet of black helicopters.</p>

<p>In the lexicon of right-wing Republicans, “woke” is a pejorative umbrella term that covers a variety of topics - from climate change and social programmes to support for minorities. “Unelected elites” are the kind of people who converge on Davos once a year to exchange ideas on global problems.</p>

<p>US corporate leaders who incur the displeasure of powerful politicians also count as unelected elites, of course. Such as Disney CEO Bob Chapek who, under pressure from angry employees, criticised Florida’s Republican governor Ron DeSantis for legislation to limit school instruction about sexual orientation and gender identity.</p>

<p>DeSantis retaliated by cutting tax and other privileges Disney had enjoyed since 1967. Chapek’s successor as CEO, Bob Iger, hit back by cancelling a $2 billion expansion project around Orlando that would have resulted in 2,000 new jobs.</p>

<p>Another example of how carefully an American company must tread in the culture wars – often discussed with more passion on social media as real wars, i.e. Ukraine – was provided by Bud Light, the country’s most popular beer.</p>

<p>Its drinkers are mostly men and its market share is highest in conservative parts of the country, where diversity is not a major concern and there is little or no sympathy for people who change their gender. Despite a stable consumer base, Bud Light’s sales have been falling steadily across the country.</p>

<p>To stop the decline, caused by greater demand for craft beers, Anheuser Busch, Bud’s brewer, attempted to attract a wider and more diverse range of consumers, including women.</p>

<p>To achieve that goal, the woman in charge of Bud Light’s marketing, Alissa Heinerscheid, launched a promotion that featured a transgender influencer, Dylan Mulvaney. To mark the anniversary of her transition from man to woman, she was given a special gift -- a Bud Light can adorned with her picture.</p>

<p>Mulvaney displayed it proudly on TikTok, where she has almost 11 million followers, and Instagram, where she has 1.8 million. It was a personalised once-only can but conservative social media commenters gave the impression that the can was mass-produced and available in all stores.</p>

<p>That prompted furious social media criticism and so much rage that the country singer Kid Rock produced a video of him shooting Bud Light cans with a submachine gun.</p>

<p>The beer episode illuminates the passion aroused by subjects anathema to the political right but it is no more than a sideshow to the wider issue of the cooling relations between corporate America and the Republican Party in its present configuration.</p>

<p><a href="https://www.wionews.com/videos/desantis-ends-disney-worlds-corporate-kingdom-company-loses-self-governing-status-with-new-law-566942"><strong>WATCH |&nbsp;DeSantis ends Disney World's 'corporate kingdom', company loses self-governing status with new law</strong></a></p>

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<p>There is no unanimity of views of what soured relations between Big Business and the Republican Party but Larry Fink, the hugely successful CEO of BlackRock often comes up in discussions of the estrangement.</p>

<p>In 2020 and 2021, Fink sent letters to dozens of influential CEOs arguing that the financial industry must act against climate change. The letters were effective: they sparked a wave of climate-conscious investing as well as intense lobbying against the idea from oil and other fossil-fuel companies.</p>

<p>At the latest meeting of the World Economic Forum in Davos in January, Fink deplored harsh right-wing attacks on him and his strategy proposals. “The narrative is ugly,” he told the meeting. “The narrative has created this huge polarisation…They are trying to demonise the issues.”</p>

<p>Elon Musk, the eccentric billionaire whose mass production of electric cars has been good for the environment, also attended the Davos meeting but had a different take on ESG. “The S in ESG stands for Satanic,” he said in a tweet.</p>

<p>No end is in sight for the controversy. ESG and DEI are certain to be part of the debates in the run-up to the 2024 US presidential elections.</p>

<p><em><strong>Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.</strong></em></p>

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After decades of close and harmonious relations, Big Business and the Republican Party and its most hard-line followers are fighting each other on some of the most sensitive fronts of America’s increasingly bizarre culture wars.

After decades of close and harmonious relations, Big Business and the Republican Party and its most hard-line followers are fighting each other on some of the most sensitive fronts of America’s increasingly bizarre culture wars. Those involved on the side of corporate America are some of the biggest and best-known brands, from Disney, owners of the world’s most popular entertainment parks, to Budweiser, makers of America’s most popular beer, to BlackRock, the multi-national investment firm which is the world’s largest asset manager. On the opposite front are right-wing Republicans, including three aspirants to the US presidency, who object to corporate policies best known by their acronyms: ESG and DEI. That stands for Environmental, Social and Governance and Diversity, Equity and Inclusion. How willing Republicans are to break with their traditional allies on Wall Street was thrown into sharp focus in March with the adoption of a bill to prevent retirement fund managers from basing decisions on factors like climate change, the “E” in ESG. The US Senate passed the measure with a 50-46 vote. ALSO READ | How Mickey Mouse was drawn into America’s culture wars One critic, Washington Post columnist Dana Milbank, saw the bill as evidence that Republicans, once champions of the free market, had become inspired by Soviet economic planners. “Republican lawmakers are now telling which businesses they can and can’t invest in – and which investment criteria they will be permitted to consider." The bill prompted President Joe Biden to issue the first veto of his presidency. “I signed this veto because the legislation passed by Congress would put at risk the retirement savings of individuals across the country,” he explained. The response, from the speaker of the Republican-dominated House of Representatives, Kevin McCarthy: “President Biden wants to use your hard-earned money not to grow your savings but to fund a far-left political agenda.” Winning a battle, as Biden did with his veto, does not mean winning the culture wars that go far beyond investment strategies and cover issues as diverse as abortion, education, voting rights, gun laws, school libraries, immigration, and the LGBT community. As far as ESG investment goes, the dark views of hard-line Republicans were spelt out at a hearing of the House Oversight Committee in May by Steve Marshall, the Alabama attorney general and one of two “expert” witnesses. “An unelected cabal of global elites,” he told the hearing, “have formed alliances to coordinate together to implement woke climate policy….unelected elites are making policy decisions outside of democratic processes.” That brought to mind a conspiracy theory dating back to the 1970s according to which a cabal of elites are secretly working on a plan to turn the United Nations into the seat of a world government, taking away US sovereignty and enforcing its rule with a fleet of black helicopters. In the lexicon of right-wing Republicans, “woke” is a pejorative umbrella term that covers a variety of topics - from climate change and social programmes to support for minorities. “Unelected elites” are the kind of people who converge on Davos once a year to exchange ideas on global problems. US corporate leaders who incur the displeasure of powerful politicians also count as unelected elites, of course. Such as Disney CEO Bob Chapek who, under pressure from angry employees, criticised Florida’s Republican governor Ron DeSantis for legislation to limit school instruction about sexual orientation and gender identity. DeSantis retaliated by cutting tax and other privileges Disney had enjoyed since 1967. Chapek’s successor as CEO, Bob Iger, hit back by cancelling a $2 billion expansion project around Orlando that would have resulted in 2,000 new jobs. Another example of how carefully an American company must tread in the culture wars – often discussed with more passion on social media as real wars, i.e. Ukraine – was provided by Bud Light, the country’s most popular beer. Its drinkers are mostly men and its market share is highest in conservative parts of the country, where diversity is not a major concern and there is little or no sympathy for people who change their gender. Despite a stable consumer base, Bud Light’s sales have been falling steadily across the country. To stop the decline, caused by greater demand for craft beers, Anheuser Busch, Bud’s brewer, attempted to attract a wider and more diverse range of consumers, including women. To achieve that goal, the woman in charge of Bud Light’s marketing, Alissa Heinerscheid, launched a promotion that featured a transgender influencer, Dylan Mulvaney. To mark the anniversary of her transition from man to woman, she was given a special gift -- a Bud Light can adorned with her picture. Mulvaney displayed it proudly on TikTok, where she has almost 11 million followers, and Instagram, where she has 1.8 million. It was a personalised once-only can but conservative social media commenters gave the impression that the can was mass-produced and available in all stores. That prompted furious social media criticism and so much rage that the country singer Kid Rock produced a video of him shooting Bud Light cans with a submachine gun. The beer episode illuminates the passion aroused by subjects anathema to the political right but it is no more than a sideshow to the wider issue of the cooling relations between corporate America and the Republican Party in its present configuration. WATCH | DeSantis ends Disney World's 'corporate kingdom', company loses self-governing status with new law × There is no unanimity of views of what soured relations between Big Business and the Republican Party but Larry Fink, the hugely successful CEO of BlackRock often comes up in discussions of the estrangement. In 2020 and 2021, Fink sent letters to dozens of influential CEOs arguing that the financial industry must act against climate change. The letters were effective: they sparked a wave of climate-conscious investing as well as intense lobbying against the idea from oil and other fossil-fuel companies. At the latest meeting of the World Economic Forum in Davos in January, Fink deplored harsh right-wing attacks on him and his strategy proposals. “The narrative is ugly,” he told the meeting. “The narrative has created this huge polarisation…They are trying to demonise the issues.” Elon Musk, the eccentric billionaire whose mass production of electric cars has been good for the environment, also attended the Davos meeting but had a different take on ESG. “The S in ESG stands for Satanic,” he said in a tweet. No end is in sight for the controversy. ESG and DEI are certain to be part of the debates in the run-up to the 2024 US presidential elections. Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer. WATCH WION LIVE HERE:

How Big Business ended up in the trenches of America’s culture wars

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<p>With the US debt default deadline precariously close, President Joe Biden said his administration was close to achieving a breakthrough. For the first time in many weeks, Biden seemed upbeat about the prospect of getting the deal done and raising the debt ceiling.&nbsp;</p>

<p>"It's very close and I'm optimistic," said Biden as he left for the Memorial Day weekend at Camp David.&nbsp;</p>

<p>Biden's team at the White House was busy chalking out a deal with the Republicans at the Capitol via a conference call. Biden reflected on the same and said, “There’s a negotiation going on. I’m hopeful we’ll know by tonight whether we’re going to be able to have a deal."</p>

<p>Republican Representative Patrick McHenry, one of the lead negotiators of House Speaker Kevin McCarthy concurred with the president's statement and added, "I'm hopeful. But we have to make sure we have a line on tax, we have a line on agreement — there’s significant challenges ahead."</p>

<p>Meanwhile, US Treasury Secretary Janet Yellen&nbsp;said the government will now run out of money on June 5, instead of the earlier projected date of June 1. She, however, warned that waiting till the eleventh hour to raise the ceiling could cause more harm.&nbsp;</p>

<p>"Waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States," she said.</p>

<p><strong>Watch | US Treasury Secretary warns country running out of cash</strong></p>

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<h2><strong>What is the debt limit?</strong></h2>

<p>The debt limit is the amount of money that the US government can borrow to meet its financial obligations such as social security, military salaries and medicare benefits payments.&nbsp;</p>

<p>Congress earlier this year extended the statutory debt limit to $31.4 trillion. However, the weak economic fundamentals and overflowing expenditures mean that the US will be breaching the limit. Consequently, Congress has been engaged in a fierce tussle to raise the limit.&nbsp;</p>

<p><a href="https://www.wionews.com/world/explained-us-is-running-out-of-cash-know-what-is-debt-ceiling-and-current-crisis-595534" target="_blank"><strong>ALSO READ | Explained | US is 'running out of cash'. What is the debt ceiling crisis?</strong></a></p>

<p>Notably, to raise the limit, any agreement reached will have to pass the scrutiny of&nbsp;the Republican-controlled House and the Democratic-led Senate before Biden could sign it into law — a process that could take more than a week.</p>

<p>So far, the&nbsp;Republicans have been adamant that the Biden administration implement big spending cuts if the debt ceiling was to be raised. According to reports, if Republicans and Democrats arrive at a happy place, the limit could be potentially raised for two years.&nbsp;</p>

<p><em>(With inputs from agencies)</em><br />
<br />
&nbsp;</p>

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With the US debt default deadline precariously close, President Joe Biden said his administration was close to achieving a breakthrough. For the first time in many weeks, Biden seemed upbeat about the prospect of getting the deal done and raising the debt ceiling.

With the US debt default deadline precariously close, President Joe Biden said his administration was close to achieving a breakthrough. For the first time in many weeks, Biden seemed upbeat about the prospect of getting the deal done and raising the debt ceiling. "It's very close and I'm optimistic," said Biden as he left for the Memorial Day weekend at Camp David. Biden's team at the White House was busy chalking out a deal with the Republicans at the Capitol via a conference call. Biden reflected on the same and said, “There’s a negotiation going on. I’m hopeful we’ll know by tonight whether we’re going to be able to have a deal." Republican Representative Patrick McHenry, one of the lead negotiators of House Speaker Kevin McCarthy concurred with the president's statement and added, "I'm hopeful. But we have to make sure we have a line on tax, we have a line on agreement — there’s significant challenges ahead." Meanwhile, US Treasury Secretary Janet Yellen said the government will now run out of money on June 5, instead of the earlier projected date of June 1. She, however, warned that waiting till the eleventh hour to raise the ceiling could cause more harm. "Waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers, and negatively impact the credit rating of the United States," she said. Watch | US Treasury Secretary warns country running out of cash What is the debt limit? The debt limit is the amount of money that the US government can borrow to meet its financial obligations such as social security, military salaries and medicare benefits payments. Congress earlier this year extended the statutory debt limit to $31.4 trillion. However, the weak economic fundamentals and overflowing expenditures mean that the US will be breaching the limit. Consequently, Congress has been engaged in a fierce tussle to raise the limit. ALSO READ | Explained | US is 'running out of cash'. What is the debt ceiling crisis? Notably, to raise the limit, any agreement reached will have to pass the scrutiny of the Republican-controlled House and the Democratic-led Senate before Biden could sign it into law — a process that could take more than a week. So far, the Republicans have been adamant that the Biden administration implement big spending cuts if the debt ceiling was to be raised. According to reports, if Republicans and Democrats arrive at a happy place, the limit could be potentially raised for two years. (With inputs from agencies) WATCH WION LIVE HERE:

'It's very close...': Biden sounds optimistic on breakthrough in debt ceiling talks

<p>United States President Joe Biden struck a deal ‘in principle’ with Republican lawmakers to increase the debt ceiling of the country on Saturday, in a first crucial step towards averting the disastrous default with a few days to spare.&nbsp;On June 5, the government is likely to hit its borrowing limit which was increasing the chances of the world's largest economy defaulting on its repayment obligations and putting the global markets on fire.<br />
<br />
The negotiators agreed to cap the non-defence discretionary spending at 2023 levels for one year and increase it by 1% in 2025, said a source familiar with the deal, further adding that&nbsp;the agreement includes a two-year appropriations deal and a two-year debt limit extension, effectively resolving the issue until after the 2024 election. said.&nbsp;</p>

<h2><strong>Congress to vote on debt ceiling bill Wednesday: McCarthy</strong></h2>

<p>Confirming the striking of a deal in principle in ongoing negotiations between Republicans and the White House to increase the debt ceiling, Republican leader Kevin McCarthy said that Congress is likely to vote on Wednesday.<br />
<br />
"I just got off the phone with the president a bit ago," tweeted McCarthy on Saturday evening. "After he wasted time and refused to negotiate for months, we've come to an agreement in principle that is worthy of the American people,” he added.</p>

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<p dir="ltr" lang="en">Republicans are poised to deliver big, consequential change in Washington. Soon, we will vote for a responsible debt limit agreement that stops Democrats' reckless spending, claws back unspent COVID funds, blocks Biden's new tax schemes, &amp; much, much more <a href="https://t.co/TQ7CblFsaM">https://t.co/TQ7CblFsaM</a></p>
— Kevin McCarthy (@SpeakerMcCarthy) <a href="https://twitter.com/SpeakerMcCarthy/status/1662627260401356800?ref_src=twsrc%5Etfw">May 28, 2023</a></blockquote>
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<p>McCarthy said that he will have another round of talks with President Biden on Sunday and oversee the final draft of the bill, further stating that the House of Representatives will be "voting on it on Wednesday."</p>

<h2><strong>'Compromise' debt bill will avert 'catastrophic default', says Biden</strong></h2>

<p>President Biden said that the draft bill finalised on Saturday will increase the US debt ceiling and stop a "catastrophic default”.<br />
<br />
The Democrat stated the bill was a "compromise, which means not everyone gets what they want."<br />
<br />
However, "it prevents what could have been a catastrophic default and would have led to an economic recession, retirement accounts devastated, and millions of jobs lost," he added in a statement.</p>

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<p dir="ltr" lang="en">Earlier this evening, Speaker McCarthy and I reached a budget agreement in principle.<br />
<br />
It is an important step forward that reduces spending while protecting critical programs for working people and growing the economy for everyone. And, the agreement protects my and…</p>
— President Biden (@POTUS) <a href="https://twitter.com/POTUS/status/1662639703764484096?ref_src=twsrc%5Etfw">May 28, 2023</a></blockquote>
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<p>The end of weeks of ongoing negotiations in Congress and the White House will help the government to add to its $31 trillion-plus debt and avert a downgraded credit rating, further decreasing the looming threat of recession.&nbsp;</p>

<p>Party leaders are now in a race against time to finalise the agreement through Congress as hard-right Republicans and Democratic progressives are crying foul over concessions made to finalise the deal.</p>

<p>US Treasury Secretary Janet Yellen had earlier issued a warning of a possible default on June 1 if the debt ceiling is not raised by Congress, however, the lawmakers received breathing room on Friday when the deadline was updated by her to June 5.</p>

<p>Even with the updated deadline, Congress needs to clear the legislation much more quickly than the time stipulated for even the most uncontroversial bills.</p>

<p><em>(With inputs from agencies)</em></p>

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United States President Joe Biden struck a deal ‘in principle’ with Republican lawmakers to increase the debt ceiling of the country on Saturday, in a first crucial step towards averting the disastrous default with a few days to spare.

United States President Joe Biden struck a deal ‘in principle’ with Republican lawmakers to increase the debt ceiling of the country on Saturday, in a first crucial step towards averting the disastrous default with a few days to spare. On June 5, the government is likely to hit its borrowing limit which was increasing the chances of the world's largest economy defaulting on its repayment obligations and putting the global markets on fire. The negotiators agreed to cap the non-defence discretionary spending at 2023 levels for one year and increase it by 1% in 2025, said a source familiar with the deal, further adding that the agreement includes a two-year appropriations deal and a two-year debt limit extension, effectively resolving the issue until after the 2024 election. said. Congress to vote on debt ceiling bill Wednesday: McCarthy Confirming the striking of a deal in principle in ongoing negotiations between Republicans and the White House to increase the debt ceiling, Republican leader Kevin McCarthy said that Congress is likely to vote on Wednesday. "I just got off the phone with the president a bit ago," tweeted McCarthy on Saturday evening. "After he wasted time and refused to negotiate for months, we've come to an agreement in principle that is worthy of the American people,” he added. Republicans are poised to deliver big, consequential change in Washington. Soon, we will vote for a responsible debt limit agreement that stops Democrats' reckless spending, claws back unspent COVID funds, blocks Biden's new tax schemes, & much, much more https://t.co/TQ7CblFsaM — Kevin McCarthy (@SpeakerMcCarthy) May 28, 2023 × McCarthy said that he will have another round of talks with President Biden on Sunday and oversee the final draft of the bill, further stating that the House of Representatives will be "voting on it on Wednesday." 'Compromise' debt bill will avert 'catastrophic default', says Biden President Biden said that the draft bill finalised on Saturday will increase the US debt ceiling and stop a "catastrophic default”. The Democrat stated the bill was a "compromise, which means not everyone gets what they want." However, "it prevents what could have been a catastrophic default and would have led to an economic recession, retirement accounts devastated, and millions of jobs lost," he added in a statement. Earlier this evening, Speaker McCarthy and I reached a budget agreement in principle. It is an important step forward that reduces spending while protecting critical programs for working people and growing the economy for everyone. And, the agreement protects my and… — President Biden (@POTUS) May 28, 2023 × The end of weeks of ongoing negotiations in Congress and the White House will help the government to add to its $31 trillion-plus debt and avert a downgraded credit rating, further decreasing the looming threat of recession. Party leaders are now in a race against time to finalise the agreement through Congress as hard-right Republicans and Democratic progressives are crying foul over concessions made to finalise the deal. US Treasury Secretary Janet Yellen had earlier issued a warning of a possible default on June 1 if the debt ceiling is not raised by Congress, however, the lawmakers received breathing room on Friday when the deadline was updated by her to June 5. Even with the updated deadline, Congress needs to clear the legislation much more quickly than the time stipulated for even the most uncontroversial bills. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

US: Biden, Republicans reach ‘in principle’ deal to avert catastrophic debt default

<p>The Texas House moved to impeach the state’s Attorney General Ken Paxton, on Saturday (May 27), in a historic vote, alleging that his conduct included a slew of abuses of his office. The impeachment, which was the first time in decades, followed a vote from the 149-member Republican-led Texas House where Paxton had been accused of abuse of office by his fellow GOP members.&nbsp;</p>

<h2><strong>Proceedings and the vote&nbsp;</strong></h2>

<p>The three-term attorney general and former United States President Donald Trump ally,&nbsp;Paxton, was immediately suspended after the House of Representatives in Texas voted 121-23 to impeach him&nbsp;after hours of debate on the 20 articles, which included allegations of bribery and abuse of public trust filed against him.&nbsp;</p>

<p>During the debate, the House chamber heard speeches from both supporters and opponents of the impeachment. The decision followed a majority vote against Paxton, with two members present but not voting, while three were absent. After the vote, the now-suspended attorney general took to Twitter and denied the accusations and denounced the proceedings as “illegal, unethical, and profoundly unjust.”&nbsp;</p>

<p>He added, “I look forward to a quick resolution in the Texas Senate, where I have full confidence the process will be fair and just.” However, Paxton’s permanent ouster is still pending trial from the US Senate where his wife Angela Paxton is a senator. As per the Texas Senate website, they are in recess until 1:00 pm (local time), on Sunday.&nbsp;<br />
<br />
The debate also comes after the five-member Texas House General Investigating Committee voted unanimously, on Thursday, and recommended that Paxton be impeached and removed from office.&nbsp;</p>

<p>The development also comes at a time when divides inside the Republican Party are becoming more apparent in Texas. “Attorney General Paxton continuously and blatantly violated laws, rules, policies and procedures,” said Representative David Spiller.&nbsp;</p>

<p>Spiller, who was also a part of the House investigative committee,&nbsp;also revealed that the investigation against Paxton has been going on for months. On the other hand, John Smithee, a long-time conservative member of the chamber, said while he is not defending Paxton’s actions, he criticised the process and said there was not sufficient evidence for the proceedings.&nbsp;</p>

<p>“There is not one word, not one sentence in the testimony before you that would be admissible in any Texas court of law,” said Smithee, adding that “It is hearsay within hearsay within hearsay.” Ahead of the vote, on Saturday, Trump had also taken to his social media platform Truth Social and vowed to “fight” if the Republican-led Texas House were to impeach Paxton.&nbsp;</p>

<h2><strong>Why is Paxton being impeached?</strong></h2>

<p>The Republican-led committee had 20 articles of impeachment against Paxton following the vote, accusing him of a long list of abuses, including accepting bribes, failing to perform his official duties, obstructing justice in a separate securities fraud case that is pending against him, lying on official documents and reports, and abusing the public trust.</p>

<p>This includes&nbsp;conducting an alleged sham investigation against whistleblowers in his office whom he fired, felony securities fraud charges from 2015, and an ongoing FBI investigation into corruption accusations, among other offences.&nbsp;</p>

<p><em>(With inputs from agencies)&nbsp;</em><br />
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The Texas House moved to impeach the state’s Attorney General Ken Paxton, on Saturday (May 27), in a historic vote, alleging that his conduct included a slew of abuses of his office.

The Texas House moved to impeach the state’s Attorney General Ken Paxton, on Saturday (May 27), in a historic vote, alleging that his conduct included a slew of abuses of his office. The impeachment, which was the first time in decades, followed a vote from the 149-member Republican-led Texas House where Paxton had been accused of abuse of office by his fellow GOP members. Proceedings and the vote The three-term attorney general and former United States President Donald Trump ally, Paxton, was immediately suspended after the House of Representatives in Texas voted 121-23 to impeach him after hours of debate on the 20 articles, which included allegations of bribery and abuse of public trust filed against him. During the debate, the House chamber heard speeches from both supporters and opponents of the impeachment. The decision followed a majority vote against Paxton, with two members present but not voting, while three were absent. After the vote, the now-suspended attorney general took to Twitter and denied the accusations and denounced the proceedings as “illegal, unethical, and profoundly unjust.” He added, “I look forward to a quick resolution in the Texas Senate, where I have full confidence the process will be fair and just.” However, Paxton’s permanent ouster is still pending trial from the US Senate where his wife Angela Paxton is a senator. As per the Texas Senate website, they are in recess until 1:00 pm (local time), on Sunday. The debate also comes after the five-member Texas House General Investigating Committee voted unanimously, on Thursday, and recommended that Paxton be impeached and removed from office. The development also comes at a time when divides inside the Republican Party are becoming more apparent in Texas. “Attorney General Paxton continuously and blatantly violated laws, rules, policies and procedures,” said Representative David Spiller. Spiller, who was also a part of the House investigative committee, also revealed that the investigation against Paxton has been going on for months. On the other hand, John Smithee, a long-time conservative member of the chamber, said while he is not defending Paxton’s actions, he criticised the process and said there was not sufficient evidence for the proceedings. “There is not one word, not one sentence in the testimony before you that would be admissible in any Texas court of law,” said Smithee, adding that “It is hearsay within hearsay within hearsay.” Ahead of the vote, on Saturday, Trump had also taken to his social media platform Truth Social and vowed to “fight” if the Republican-led Texas House were to impeach Paxton. Why is Paxton being impeached? The Republican-led committee had 20 articles of impeachment against Paxton following the vote, accusing him of a long list of abuses, including accepting bribes, failing to perform his official duties, obstructing justice in a separate securities fraud case that is pending against him, lying on official documents and reports, and abusing the public trust. This includes conducting an alleged sham investigation against whistleblowers in his office whom he fired, felony securities fraud charges from 2015, and an ongoing FBI investigation into corruption accusations, among other offences. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

US: Texas House votes to impeach Attorney General Ken Paxton amid fraud, bribery allegations

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<p>The Republican queue for securing a presidential nomination is getting congested with each passing day. While former president Donald Trump is currently leading the pack, many consider Florida Governor Ron DeSantis as the dark horse who can take the fight to him and perhaps, stage an upset, if the stars align themselves perfectly.&nbsp;&nbsp;</p>

<p>DeSantis launched his 2024 presidential campaign on Wednesday, vowing to lead Americans into a new era of success and fight for their freedoms.&nbsp;Within the GOP, despite Trump's larger-than-life image, DeSantis remains the best hope for anti-Trump forces.&nbsp;</p>

<p>DeSantis’ rising profile among Republicans and fundraising skills make&nbsp;him one of the biggest threats to Trump who appears to be rattled by his presence.&nbsp;</p>

<p>Both DeSantis and Trump have been at each other's throats ever since it was insinuated that they may have to share the gladiatorial stage.&nbsp;</p>

<p>Trump has attacked the Florida governor by calling him 'meatball Ron', 'Ron DeSanctimonious' whilst implying that DeSantis may be hit with sexual assault allegations from both men and women.&nbsp;</p>

<p>"I think if he runs, he could hurt himself very badly. I think the base would not like it - I don't think it would be good for the party," said Trump, when quizzed about DeSantis' nomination.&nbsp;</p>

<p><a href="https://www.wionews.com/us-elections/florida-republican-governor-ron-desantis-to-formally-enter-us-presidential-election-next-week-593574"><strong>ALSO READ |&nbsp;Florida Republican Governor Ron DeSantis to formally enter US presidential election race next week</strong></a></p>

<h2><strong>But who is DeSantis?</strong></h2>

<p>After graduating&nbsp;from Yale University, DeSantis attended Harvard Law School. He&nbsp; graduated&nbsp;Juris Doctor cum laude in 2005. DeSantis joined the US Navy in 2004 and worked as a legal adviser to SEAL Team One. He did a stint in Iraq in 2007 before being appointed Special Assistant US attorney by the Department of Justice eight months later.&nbsp;</p>

<p>He was first elected to the House of Representatives in 2012 and has since steadily risen among the ranks. At one time, he was one of Trump's ardent followers, having been one of the founding leaders of the Freedom Caucus. However, with a presidential nomination on the line, both have turned into arch-enemies of sorts.&nbsp;</p>

<h2><strong>Task remains uphill for DeSantis</strong></h2>

<p>The task, though, is not straightforward for DeSantis. Reuters/Ipsos poll&nbsp;conducted this month showed Trump was backed by 49 per cent of Republicans and DeSantis 19 per cent.</p>

<p>Any previous candidate attempting to secure a presidential nomination has not lost from this position — meaning Trump has the upper hand. To change the tide, DeSantis not only has to convince anti-Trump GOP lawmakers but also Trump supporters as well as maybe-Trumpers.&nbsp;</p>

<h2><strong>Trump's aura may not be as strong as in 2016</strong></h2>

<p>Despite the flair and charm that Trump exhibits, he has two consecutive failed election campaigns on his resume. He lost the 2020 presidential elections and later cried wolf that the election was stolen from him. Two years later, Trump claimed there was a red wave across the country, only for Republicans to lose the Senate to the Democrats in the midterms.&nbsp;</p>

<p>Poll analysts are of the view that Trump does not have a particular agenda going into the race. He is sitting on his past laurels and attempting to change the mind of voters who did not stay with him in 2020 by using his tried-and-tested tactics of excessive noise. Comparatively, DeSantis is regarded as an astute politician who has done the hard yards and knows how to grind out results.&nbsp;</p>

<p><a href="https://www.wionews.com/world/trump-kicks-off-2024-campaign-targeting-gender-expression-ron-desantis-575870"><strong>ALSO READ |&nbsp;Trump kicks off 2024 campaign targeting gender expression, Ron DeSantis</strong></a></p>

<p>DeSantis' popularity can be gauged by the fact that in an election where Trump's magic was a far cry, he won the Florida seat by a whopping margin of 1.5 million votes - the largest in the state in more than four decades.&nbsp;</p>

<p>Media mogul Rupert Murdoch has also thrown his weight behind him, saying that he would prefer to cast aside Trump in favour of DeSantis as the Republican party leader.&nbsp;</p>

<p>Then there is the age issue that plays into DeSantis' hands. Trump will be 78 heading into the 2024 election and for all the stick current US President Joe Biden has got for his old age, not many would be willing to let Trump go easily either. DeSantis is young, and as many in political circles say, absolutely meticulous when it comes to seeing a policy to the end.&nbsp;</p>

<p><strong>WATCH |&nbsp;Trump attacks Biden after he announces 2024 re-election bid</strong></p>

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<p><a href="https://www.wionews.com/us-elections/florida-republican-governor-ron-desantis-to-formally-enter-us-presidential-election-next-week-593574#" id="jqclosemark">×</a></p>

<h2><strong>DeSantis, the politician</strong></h2>

<p>The dispute between DeSantis and Disney after the latter criticised the state's Parental Rights in Education Act, colloquially known as the "Don't Say Gay" bill,&nbsp;has been one of the biggest launch pads for the Florida governor in the lead-up to the election.&nbsp;</p>

<p>Taking on a 'woke' Disney has become one of the major poll planks for DeSantis. The Disney controversy has earned him points in the conservative circles and he is now doubling down on the issue to go for the jugular. However, Disney cancelling the $1&nbsp;billion investment in Florida may have thrown a monkey wrench in DeSantis' plans.&nbsp;</p>

<p>In order to bring his campaign back on track, election experts believe that DeSantis will have to either win in Iowa or New Hampshire. Though a win may not be enough to win a nomination, it is necessary to take the fight to the last day of primaries.&nbsp;</p>

<p>The likes of Barack Obama and John McCain, who polled in the low 20s in the nomination race, managed to make a comeback after winning Iowa and New Hampshire respectively, back in the day.&nbsp;</p>

<p>Many within the GOP, in hushed voices, say they are not confident that Trump is the right person to usher in the new Republican era. There is a clear consensus that DeSantis will be a far better and more effective branch leader. The result, however, will depend on how aggressive DeSantis plays after announcing the nomination because Trump will not be taking any prisoners.&nbsp;&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

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The Republican queue for securing a presidential nomination is getting congested with each passing day. While former president Donald Trump is currently leading the pack, many consider Florida Governor Ron DeSantis as the dark horse who can take the fight to him and perhaps, stage an upset, if the stars align themselves perfectly.

The Republican queue for securing a presidential nomination is getting congested with each passing day. While former president Donald Trump is currently leading the pack, many consider Florida Governor Ron DeSantis as the dark horse who can take the fight to him and perhaps, stage an upset, if the stars align themselves perfectly. DeSantis launched his 2024 presidential campaign on Wednesday, vowing to lead Americans into a new era of success and fight for their freedoms. Within the GOP, despite Trump's larger-than-life image, DeSantis remains the best hope for anti-Trump forces. DeSantis’ rising profile among Republicans and fundraising skills make him one of the biggest threats to Trump who appears to be rattled by his presence. Both DeSantis and Trump have been at each other's throats ever since it was insinuated that they may have to share the gladiatorial stage. Trump has attacked the Florida governor by calling him 'meatball Ron', 'Ron DeSanctimonious' whilst implying that DeSantis may be hit with sexual assault allegations from both men and women. "I think if he runs, he could hurt himself very badly. I think the base would not like it - I don't think it would be good for the party," said Trump, when quizzed about DeSantis' nomination. ALSO READ | Florida Republican Governor Ron DeSantis to formally enter US presidential election race next week But who is DeSantis? After graduating from Yale University, DeSantis attended Harvard Law School. He graduated Juris Doctor cum laude in 2005. DeSantis joined the US Navy in 2004 and worked as a legal adviser to SEAL Team One. He did a stint in Iraq in 2007 before being appointed Special Assistant US attorney by the Department of Justice eight months later. He was first elected to the House of Representatives in 2012 and has since steadily risen among the ranks. At one time, he was one of Trump's ardent followers, having been one of the founding leaders of the Freedom Caucus. However, with a presidential nomination on the line, both have turned into arch-enemies of sorts. Task remains uphill for DeSantis The task, though, is not straightforward for DeSantis. Reuters/Ipsos poll conducted this month showed Trump was backed by 49 per cent of Republicans and DeSantis 19 per cent. Any previous candidate attempting to secure a presidential nomination has not lost from this position — meaning Trump has the upper hand. To change the tide, DeSantis not only has to convince anti-Trump GOP lawmakers but also Trump supporters as well as maybe-Trumpers. Trump's aura may not be as strong as in 2016 Despite the flair and charm that Trump exhibits, he has two consecutive failed election campaigns on his resume. He lost the 2020 presidential elections and later cried wolf that the election was stolen from him. Two years later, Trump claimed there was a red wave across the country, only for Republicans to lose the Senate to the Democrats in the midterms. Poll analysts are of the view that Trump does not have a particular agenda going into the race. He is sitting on his past laurels and attempting to change the mind of voters who did not stay with him in 2020 by using his tried-and-tested tactics of excessive noise. Comparatively, DeSantis is regarded as an astute politician who has done the hard yards and knows how to grind out results. ALSO READ | Trump kicks off 2024 campaign targeting gender expression, Ron DeSantis DeSantis' popularity can be gauged by the fact that in an election where Trump's magic was a far cry, he won the Florida seat by a whopping margin of 1.5 million votes - the largest in the state in more than four decades. Media mogul Rupert Murdoch has also thrown his weight behind him, saying that he would prefer to cast aside Trump in favour of DeSantis as the Republican party leader. Then there is the age issue that plays into DeSantis' hands. Trump will be 78 heading into the 2024 election and for all the stick current US President Joe Biden has got for his old age, not many would be willing to let Trump go easily either. DeSantis is young, and as many in political circles say, absolutely meticulous when it comes to seeing a policy to the end. WATCH | Trump attacks Biden after he announces 2024 re-election bid × DeSantis, the politician The dispute between DeSantis and Disney after the latter criticised the state's Parental Rights in Education Act, colloquially known as the "Don't Say Gay" bill, has been one of the biggest launch pads for the Florida governor in the lead-up to the election. Taking on a 'woke' Disney has become one of the major poll planks for DeSantis. The Disney controversy has earned him points in the conservative circles and he is now doubling down on the issue to go for the jugular. However, Disney cancelling the $1 billion investment in Florida may have thrown a monkey wrench in DeSantis' plans. In order to bring his campaign back on track, election experts believe that DeSantis will have to either win in Iowa or New Hampshire. Though a win may not be enough to win a nomination, it is necessary to take the fight to the last day of primaries. The likes of Barack Obama and John McCain, who polled in the low 20s in the nomination race, managed to make a comeback after winning Iowa and New Hampshire respectively, back in the day. Many within the GOP, in hushed voices, say they are not confident that Trump is the right person to usher in the new Republican era. There is a clear consensus that DeSantis will be a far better and more effective branch leader. The result, however, will depend on how aggressive DeSantis plays after announcing the nomination because Trump will not be taking any prisoners. (With inputs from agencies) WATCH WION LIVE HERE:

Who is Ron DeSantis? All you need to know about Republican leader who joined White House race

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<p>As the back-and-forth on extending the debt limit continues, a group of progressive lawmakers in the US are now urging President Joe Biden to use his authority under the 14th Amendment of the Constitution to continue paying the US government’s bills, even if the ceiling is not raised.&nbsp;</p>

<p>With Republicans adamant that the Biden administration implement big spending cuts if the debt ceiling was to be raised, the search for a viable 'Plan B' has been ongoing. According to Democrat lawmakers, the 14th Amendment of the Constitution should be used as the escape route. The law states: "The validity of the public debt of the United States...shall not be questioned."</p>

<p>The likes of&nbsp;Tina Smith, Elizabeth Warren, Ed Markey and Bernie Sanders have written a letter to Biden, listing the plan, claiming that GOP lawmakers were not negotiating in good faith.&nbsp;&nbsp;</p>

<p>Even Biden has considered the alternative but experts fear that using it would trigger a legal battle, as well as undermine global faith in USA's creditworthiness and damage the economy.&nbsp;</p>

<p>“I have been considering the 14th Amendment. And a man I have enormous respect for, Larry Tribe, who advised me for a long time, thinks that it would be legitimate. But the problem is it would have to be litigated," said Biden last week.&nbsp;</p>

<h2><strong>Where are the talks headed?</strong></h2>

<p>After reports claimed that talks between Biden's Democratic administration and House Republicans had come to a halt, an NBC report, late on Friday night claimed that the two factions had returned to the negotiating table. Later, a White House official confirmed to the news outlet that the two parties had reopened talks.&nbsp;</p>

<p>"We will be back in the room tonight," House Speaker and Republican leader Kevin McCarthy told Fox Business.&nbsp;</p>

<p><a href="https://www.wionews.com/world/us-debt-ceiling-talks-resume-after-temporary-pause-report-594289" target="_blank"><strong>ALSO READ | US debt ceiling talks resume after a temporary pause: Report</strong></a></p>

<h2><strong>What is the debt limit?</strong></h2>

<p>In layman's terms, a debt limit is the amount of money that the US government can borrow to meet its financial obligations such as social security, military salaries and medicare benefits payments.&nbsp;</p>

<p>Congress earlier this year extended the statutory debt limit to $31.4 trillion. However, the weak economic fundamentals and overflowing expenditures mean that the US will be breaching the limit. Consequently, Congress has been engaged in a fierce tussle to raise the limit.&nbsp;</p>

<p>According to US Treasury Secretary Janet Yellen, even the extraordinary measures, if implemented will only buy the government a limited amount of time.&nbsp;&nbsp;</p>

<p>"It is therefore critical that Congress act in a timely manner to increase or suspend the debt limit. Failure to meet the government's obligations would cause irreparable harm to the US economy, the livelihoods of all Americans, and global financial stability," warned Yellen earlier this year.&nbsp;&nbsp;</p>

<p><a href="https://www.wionews.com/videos/us-debt-ceiling-crisis-president-joe-biden-cancels-post-g7-asia-tour-593388"><b>WATCH |&nbsp;US debt ceiling crisis: President Joe Biden cancels post-G7 Asia tour</b></a></p>

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<p>With the Senate under the control of Democrats and the House in Republican hands, it is highly unlikely that a straightforward limit hike will be possible.</p>

<p>If the congressional lawmakers cannot make a decision quickly, the world's largest economy could risk defaulting on its debt.</p>

<p><em>(With inputs from agencies)</em><br />
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As the back-and-forth on extending the debt limit continues, a group of progressive lawmakers in the US are now urging President Joe Biden to use his authority under the 14th Amendment of the Constitution to continue paying the US government’s bills, even if the ceiling is not raised.

As the back-and-forth on extending the debt limit continues, a group of progressive lawmakers in the US are now urging President Joe Biden to use his authority under the 14th Amendment of the Constitution to continue paying the US government’s bills, even if the ceiling is not raised. With Republicans adamant that the Biden administration implement big spending cuts if the debt ceiling was to be raised, the search for a viable 'Plan B' has been ongoing. According to Democrat lawmakers, the 14th Amendment of the Constitution should be used as the escape route. The law states: "The validity of the public debt of the United States...shall not be questioned." The likes of Tina Smith, Elizabeth Warren, Ed Markey and Bernie Sanders have written a letter to Biden, listing the plan, claiming that GOP lawmakers were not negotiating in good faith. Even Biden has considered the alternative but experts fear that using it would trigger a legal battle, as well as undermine global faith in USA's creditworthiness and damage the economy. “I have been considering the 14th Amendment. And a man I have enormous respect for, Larry Tribe, who advised me for a long time, thinks that it would be legitimate. But the problem is it would have to be litigated," said Biden last week. Where are the talks headed? After reports claimed that talks between Biden's Democratic administration and House Republicans had come to a halt, an NBC report, late on Friday night claimed that the two factions had returned to the negotiating table. Later, a White House official confirmed to the news outlet that the two parties had reopened talks. "We will be back in the room tonight," House Speaker and Republican leader Kevin McCarthy told Fox Business. ALSO READ | US debt ceiling talks resume after a temporary pause: Report What is the debt limit? In layman's terms, a debt limit is the amount of money that the US government can borrow to meet its financial obligations such as social security, military salaries and medicare benefits payments. Congress earlier this year extended the statutory debt limit to $31.4 trillion. However, the weak economic fundamentals and overflowing expenditures mean that the US will be breaching the limit. Consequently, Congress has been engaged in a fierce tussle to raise the limit. According to US Treasury Secretary Janet Yellen, even the extraordinary measures, if implemented will only buy the government a limited amount of time. "It is therefore critical that Congress act in a timely manner to increase or suspend the debt limit. Failure to meet the government's obligations would cause irreparable harm to the US economy, the livelihoods of all Americans, and global financial stability," warned Yellen earlier this year. WATCH | US debt ceiling crisis: President Joe Biden cancels post-G7 Asia tour × With the Senate under the control of Democrats and the House in Republican hands, it is highly unlikely that a straightforward limit hike will be possible. If the congressional lawmakers cannot make a decision quickly, the world's largest economy could risk defaulting on its debt. (With inputs from agencies) WATCH WION LIVE HERE:

US debt ceiling: Democrat lawmakers ask Biden to use ‘14th Amendment’ to evade debt default

<p>Days after US President Joe Biden announced his candidature for re-election next year, Republican presidential nominee seeker Nikki Haley has&nbsp;launched an attack on the Democrat leader. Haley said Biden, who is currently 80 years old would likely die and that voters will have to count on Vice President Kamala Harris if he wins the re-election.&nbsp;</p>

<p>“He [Biden]&nbsp;announced that he’s running again in 2024. I think that we can all be very clear and say with a matter of fact that if you vote for Joe Biden you really are counting on a President Harris, because the idea that he would make it until 86 years old is not something that I think is likely," Haley was quoted as saying by Fox News.&nbsp;</p>

<p>Haley's rather direct attack on Biden's old age rubbed the White House the wrong way as Deputy Press Secretary Andrew Bates said,&nbsp;“As you know, we don’t directly respond to campaigns from here.&nbsp;But honestly, I forgot she was running.”</p>

<p><a href="https://www.wionews.com/videos/joe-bidens-approval-rating-hits-all-time-low-amid-re-election-campaign-launch-poll-587092"><strong>WATCH |&nbsp;Joe Biden's approval rating hits all-time low amid re-election campaign launch: Poll</strong></a></p>

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<p>According&nbsp;to various polls, Nikki Haley, the former South Carolina governor as well as former vice president Mike Pence are currently third on the list of presidential nominees - polling&nbsp;around four per cent votes. While Haley announced her campaign earlier this year, Pence is yet to jump in. The other two contenders are former president Donald Trump and Florida Governor Ron DeSantis.&nbsp;</p>

<h2><strong>Biden formally announces his campaign&nbsp;</strong></h2>

<p>Biden officially announced his re-election campaign earlier this week with a video, asking voters to give him more time to 'finish the job' he started.&nbsp;</p>

<p>"When I ran for president four years ago, I said we're in a battle for the soul of America, and we still are,"&nbsp;Biden&nbsp;said. "This is not a time to be complacent."</p>

<p><a href="https://www.wionews.com/world/us-president-joe-biden-announces-reelection-bid-for-2024-585969"><strong>ALSO READ |&nbsp;US President Joe Biden announces another run for White House</strong></a></p>

<p>"Every generation has a moment where they have had to stand up for democracy. To stand up for their fundamental freedoms. I believe this is ours. That’s why I’m running for re-election as president of the United States. Join us. Let's finish the job," Biden wrote on Twitter.</p>

<p>The announcement likely sets up the stage for a repeat of the 2020 elections when he faced off against Donald Trump. However, it may be an uphill task for Biden who is currently polling his lowest approval rating since taking over the job.&nbsp;</p>

<p><em>(With inputs from agencies)</em><br />
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<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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Days after US President Joe Biden announced his candidature for re-election next year, Republican presidential nominee seeker Nikki Haley has launched an attack on the Democrat leader.

Days after US President Joe Biden announced his candidature for re-election next year, Republican presidential nominee seeker Nikki Haley has launched an attack on the Democrat leader. Haley said Biden, who is currently 80 years old would likely die and that voters will have to count on Vice President Kamala Harris if he wins the re-election. “He [Biden] announced that he’s running again in 2024. I think that we can all be very clear and say with a matter of fact that if you vote for Joe Biden you really are counting on a President Harris, because the idea that he would make it until 86 years old is not something that I think is likely," Haley was quoted as saying by Fox News. Haley's rather direct attack on Biden's old age rubbed the White House the wrong way as Deputy Press Secretary Andrew Bates said, “As you know, we don’t directly respond to campaigns from here. But honestly, I forgot she was running.” WATCH | Joe Biden's approval rating hits all-time low amid re-election campaign launch: Poll × According to various polls, Nikki Haley, the former South Carolina governor as well as former vice president Mike Pence are currently third on the list of presidential nominees - polling around four per cent votes. While Haley announced her campaign earlier this year, Pence is yet to jump in. The other two contenders are former president Donald Trump and Florida Governor Ron DeSantis. Biden formally announces his campaign Biden officially announced his re-election campaign earlier this week with a video, asking voters to give him more time to 'finish the job' he started. "When I ran for president four years ago, I said we're in a battle for the soul of America, and we still are," Biden said. "This is not a time to be complacent." ALSO READ | US President Joe Biden announces another run for White House "Every generation has a moment where they have had to stand up for democracy. To stand up for their fundamental freedoms. I believe this is ours. That’s why I’m running for re-election as president of the United States. Join us. Let's finish the job," Biden wrote on Twitter. The announcement likely sets up the stage for a repeat of the 2020 elections when he faced off against Donald Trump. However, it may be an uphill task for Biden who is currently polling his lowest approval rating since taking over the job. (With inputs from agencies) WATCH WION LIVE HERE:

‘Biden will likely die...’: Republican Nikki Haley makes this shocking prediction

US Republican lawmakers passed a bill to raise the government's debt ceiling on Wednesday. While US debt default looms, the bill has introduced sweeping spending cuts for the next decade.

US House passes debt limit bill in a major win for Republicans

US Republicans have responded to Donald Trump's looming arraignment by characterizing the criminal justice system as corrupt.

Republicans portray US criminal justice system as corrupt to defend Trump

Ex-U.S. President Donald Trump seems to be begging for attention from his supporters. Trump has taken several dramatical steps to gain attention. Will Republicans pay heed to Trump's drama? Molly Gambhir reports.

Gravitas: Trump outsmarts the democrats

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<p>The US state of Florida is planning to extend the ban on teaching sexual orientation and gender identity to all school grades. Currently, those studying above third grade are allowed to indulge in such discussions.&nbsp;</p>

<p>The new proposal has been put forth by the Florida Department of Education which will not require any legislative approval. Once passed, the ban would extend through the 12th grade.&nbsp;</p>

<p>The proposal received almost immediate criticism with the White House slamming the decision, calling it 'completely, utterly wrong'.&nbsp;</p>

<p>"Make no mistake: This is a part of a disturbing and dangerous trend that we're seeing across the country of legislations that are anti-LGBTQI+, anti-trans," said Karine Jean-Pierre, White House Press Secretary.&nbsp;</p>

<p><a href="https://www.wionews.com/videos/florida-governor-ron-desantis-condemns-woke-ideology-of-democrat-leaders-568983"><strong>WATCH |&nbsp;Florida governor Ron DeSantis condemns 'woke ideology' of Democrat leaders</strong></a></p>

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<p>Democrats, for long, have called the passing of the legislation immoral and dubbed it as the 'Don't say gay' bill, contrary to its formal name 'Florida Parental Rights in Education Act'.&nbsp;</p>

<p>The law, as the name suggests, claims to give parents more control over their children's education and limit the influence of schools and teachers in certain areas. Signed by DeSantis himself, the Parental Rights in Education banned classroom discussions on gay or transgender people for students in third grade or younger.</p>

<p>"Classroom instruction by school personnel or third parties on sexual orientation or gender identity may not occur in kindergarten through grade 3 or in a manner that is not age-appropriate or developmentally appropriate for students in accordance with state standards," reads the law.</p>

<p><a href="https://www.wionews.com/entertainment/hollywood/news-explained--ron-desantis-takes-control-of-disneys-self-governing-district-in-florida-amid-dont-say-gay-row-566819" target="_blank"><strong>ALSO READ | Explained | Ron DeSantis takes control of Disney's self-governing district in Florida amid 'Don't Say Gay' row</strong></a></p>

<p>The proposed rule change comes in the backdrop of Florida GOP Governor Ron DeSantis attempting to secure the party's nomination for the 2024 presidential election. DeSantis is engaged in a battle with former US president Donald Trump for the nomination.</p>

<p>The Conservatives have lapped up DeSantis' cracking of the whip against 'woke' agendas and extending the rule may help him gain more votes.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

<p>&nbsp;</p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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The US state of Florida is planning to extend the ban on teaching sexual orientation and gender identity to all school grades. Currently, those studying above third grade are allowed to indulge in such discussions.

The US state of Florida is planning to extend the ban on teaching sexual orientation and gender identity to all school grades. Currently, those studying above third grade are allowed to indulge in such discussions. The new proposal has been put forth by the Florida Department of Education which will not require any legislative approval. Once passed, the ban would extend through the 12th grade. The proposal received almost immediate criticism with the White House slamming the decision, calling it 'completely, utterly wrong'. "Make no mistake: This is a part of a disturbing and dangerous trend that we're seeing across the country of legislations that are anti-LGBTQI+, anti-trans," said Karine Jean-Pierre, White House Press Secretary. WATCH | Florida governor Ron DeSantis condemns 'woke ideology' of Democrat leaders × Democrats, for long, have called the passing of the legislation immoral and dubbed it as the 'Don't say gay' bill, contrary to its formal name 'Florida Parental Rights in Education Act'. The law, as the name suggests, claims to give parents more control over their children's education and limit the influence of schools and teachers in certain areas. Signed by DeSantis himself, the Parental Rights in Education banned classroom discussions on gay or transgender people for students in third grade or younger. "Classroom instruction by school personnel or third parties on sexual orientation or gender identity may not occur in kindergarten through grade 3 or in a manner that is not age-appropriate or developmentally appropriate for students in accordance with state standards," reads the law. ALSO READ | Explained | Ron DeSantis takes control of Disney's self-governing district in Florida amid 'Don't Say Gay' row The proposed rule change comes in the backdrop of Florida GOP Governor Ron DeSantis attempting to secure the party's nomination for the 2024 presidential election. DeSantis is engaged in a battle with former US president Donald Trump for the nomination. The Conservatives have lapped up DeSantis' cracking of the whip against 'woke' agendas and extending the rule may help him gain more votes. (With inputs from agencies) WATCH WION LIVE HERE:

Florida set to extend the ambit of 'Don't say gay' law to all school grades

Former President Donald Trump and Florida Gov. Ron DeSantis are emerging as leading rivals for the Republican presidential nomination. But when it comes to Russia's invasion of Ukraine, they are united in arguing that stopping the aggression isn't a vital U.S. strategic interest.

War in Ukraine divides Republicans

<p>According to a poll by Washington Post-ABC News, two years into his presidency a majority of Americans believe incumbent United States President Joe Biden has not achieved much since taking office. The survey which was released days before the US president is set to deliver a State of the Union address on Tuesday (February 7) said that 62 per cent of Americans think he has accomplished “not very much” or “little or nothing” during his time in office, while 36 per cent say he has accomplished “a great deal” or “a good amount.”</p>

<p>The Post-ABC News poll which was conducted between January 27 and February 1 of 1,003 adults in the US also shows how neither Democrats nor Republicans are faring well as most Americans were seen supporting Biden’s position over the debt limit more than GOP’s.&nbsp;</p>

<p>Meanwhile, there is also very little confidence in either Biden or House Speaker Kevin McCarthy as just under two in 10 Americans have “a great deal” or “a good amount” of confidence in the speaker to make the right decision for the country’s future. While at least 71 per cent have “just some” or no confidence at all and 68 per cent say they lack confidence in Biden, as per the poll.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/pm-modi-emerges-as-worlds-most-popular-leader-defeating-sunak-biden-558865">PM Modi emerges as world's most popular leader, defeating Sunak, Biden</a></strong></p>

<p>Similarly, 72 per cent of the respondents noted that they are not confident about congressional Republicans making the right decisions, while 70 per cent believe so for congressional Democrats. During his State of the Union speech, Biden is set to tout economic progress following the COVID-19 recession and draw sharp contrasts between his GOP opponents, as per media reports.&nbsp;</p>

<p>However, the Post-ABC poll shows that 77 per cent of Democrats say Biden has accomplished at least a good amount, this number drops to 32 per cent in the case of Independents, and only seven per cent of Republicans who took the survey agree with the statement. The report also shows how Biden’s potential reelection bid could also be affected by these doubts about his achievements which are higher than former president Barack Obama in 2010 and 2012. In fact, it noted that the incumbent president’s negative ratings are roughly on par with his predecessor, former president Donald Trump who lost his reelection bid in 2020.&nbsp;</p>

<p><strong>ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/us-democrats-feel-one-term-is-enough-for-biden-559456">U.S.: Democrats feel one term is enough for Biden</a></strong></p>

<p>Notably, the incumbent president’s State of the Union address also comes amid the ongoing investigation into classified documents found at his Delaware home and the office he used when he was serving as the vice president, during the Obama presidency, at the Penn Biden Center, a Washington-based think tank. A poll by the Associated Press and NORC at the University of Chicago also shows that despite more Americans disapproving of Biden’s handling of classified documents, his overall approval rating is holding steady.&nbsp;</p>

<p>According to the AP-NORC poll, overall 39 per cent disapprove of Biden’s handling of the situation since the classified documents were found while only 23 per cent of the 1,068 American adults questioned said they approve of the current president’s actions. Meanwhile, 36 per cent of people had no opinion on the subject and Democrats are more likely to approve while most Republicans disapprove of Biden's actions in the classified documents row, the report noted.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/world/explained-when-will-biden-deliver-his-state-of-the-union-address-in-2023-and-what-to-expect-558681">Explained: When will Biden deliver his State of the Union address in 2023? and what to expect?</a></strong></p>

<p>Additionally, the poll conducted between January 26 and 30 also shows that assessments of the president’s job performance are “strongly partisan” since 41 per cent of people approve of Biden’s handling of the top job which is just a two per cent drop from the poll conducted in December, last year. Furthermore, at least 77 per cent of Democrats approve while 91 per cent of Republicans disapprove of Biden’s presidency, both of which remained unchanged since the last poll.&nbsp;<br />
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According to a poll by Washington Post-ABC News, two years into his presidency a majority of Americans believe incumbent United States President Joe Biden has not achieved much since taking office.

According to a poll by Washington Post-ABC News, two years into his presidency a majority of Americans believe incumbent United States President Joe Biden has not achieved much since taking office. The survey which was released days before the US president is set to deliver a State of the Union address on Tuesday (February 7) said that 62 per cent of Americans think he has accomplished “not very much” or “little or nothing” during his time in office, while 36 per cent say he has accomplished “a great deal” or “a good amount.” The Post-ABC News poll which was conducted between January 27 and February 1 of 1,003 adults in the US also shows how neither Democrats nor Republicans are faring well as most Americans were seen supporting Biden’s position over the debt limit more than GOP’s. Meanwhile, there is also very little confidence in either Biden or House Speaker Kevin McCarthy as just under two in 10 Americans have “a great deal” or “a good amount” of confidence in the speaker to make the right decision for the country’s future. While at least 71 per cent have “just some” or no confidence at all and 68 per cent say they lack confidence in Biden, as per the poll. ALSO READ | PM Modi emerges as world's most popular leader, defeating Sunak, Biden Similarly, 72 per cent of the respondents noted that they are not confident about congressional Republicans making the right decisions, while 70 per cent believe so for congressional Democrats. During his State of the Union speech, Biden is set to tout economic progress following the COVID-19 recession and draw sharp contrasts between his GOP opponents, as per media reports. However, the Post-ABC poll shows that 77 per cent of Democrats say Biden has accomplished at least a good amount, this number drops to 32 per cent in the case of Independents, and only seven per cent of Republicans who took the survey agree with the statement. The report also shows how Biden’s potential reelection bid could also be affected by these doubts about his achievements which are higher than former president Barack Obama in 2010 and 2012. In fact, it noted that the incumbent president’s negative ratings are roughly on par with his predecessor, former president Donald Trump who lost his reelection bid in 2020. ALSO WATCH | U.S.: Democrats feel one term is enough for Biden Notably, the incumbent president’s State of the Union address also comes amid the ongoing investigation into classified documents found at his Delaware home and the office he used when he was serving as the vice president, during the Obama presidency, at the Penn Biden Center, a Washington-based think tank. A poll by the Associated Press and NORC at the University of Chicago also shows that despite more Americans disapproving of Biden’s handling of classified documents, his overall approval rating is holding steady. According to the AP-NORC poll, overall 39 per cent disapprove of Biden’s handling of the situation since the classified documents were found while only 23 per cent of the 1,068 American adults questioned said they approve of the current president’s actions. Meanwhile, 36 per cent of people had no opinion on the subject and Democrats are more likely to approve while most Republicans disapprove of Biden's actions in the classified documents row, the report noted. ALSO READ | Explained: When will Biden deliver his State of the Union address in 2023? and what to expect? Additionally, the poll conducted between January 26 and 30 also shows that assessments of the president’s job performance are “strongly partisan” since 41 per cent of people approve of Biden’s handling of the top job which is just a two per cent drop from the poll conducted in December, last year. Furthermore, at least 77 per cent of Democrats approve while 91 per cent of Republicans disapprove of Biden’s presidency, both of which remained unchanged since the last poll. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

US President Biden’s approval ratings dwindle ahead of State of the Union address: Polls

<p><meta name="uuid" content="uuidEDkpPhGy7F4d" /><meta charset="utf-8" />Embattled Republican leader George Santos has found himself mired in yet another controversy. A former aide has accused the New York congressman of sexual harassment&nbsp;by writing a letter to the House Ethics Committee.&nbsp;</p>

<p>The alleged victim had joined the Republican leader's office last month as a volunteer. He stated that the incident transpired on January 25, two days after he was hired and when he&nbsp;was alone with Santos in his personal office.</p>

<p>The Congressman had earlier asked the aide if he had a 'Grindr' profile, which is a widely known LGBTQ+ social networking app.</p>

<p>When helping Santos with his mail in the office, the New York Rep-elect called him a 'buddy' and insisted that he sit next to him on a small sofa.&nbsp;</p>

<p>"The Congressman stopped me by placing his hand on my left leg, near my knee and saying, "Hey buddy, we're going to karaoke tonight. Would you like to go?" wrote the aide in the letter.&nbsp;</p>

<p>"I kindly declined the invitation by telling the Congressman I was not a fan of clubs and bars and that I was not a good singer. The Congressman proceeded to take his hand and move it down my leg into my inner-thigh and proceeded to touch my groin."</p>

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<p dir="ltr" lang="en">These matters will not be litigated on social media or through news media. They are serious offenses and the evidence and facts will speak for themselves if the committee takes up the matter. This tweet is being made public in light of transparency. <a href="https://t.co/oSs4F3xyqc">pic.twitter.com/oSs4F3xyqc</a></p>
— Derek Myers (@DerekMyers) <a href="https://twitter.com/DerekMyers/status/1621618743620018176?ref_src=twsrc%5Etfw">February 3, 2023</a></blockquote>
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<p><a href="https://www.wionews.com/videos/embattled-george-santos-refuses-to-resign-amid-calls-for-him-to-step-down-551728"><strong>WATCH |&nbsp;Embattled George Santos refuses to resign amid calls for him to step down</strong></a></p>

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<p>Santos tried to persuade the victim by stating that his husband was out of town. However, the aide changed the topic and shortly after, left the office.&nbsp;</p>

<p>Five days later, he was called to Santos' office again and asked about his background as a journalist in Ohio. The said individual had&nbsp;faced wiretapping charges in the state, which were earlier disclosed to the hiring managers.&nbsp;</p>

<p>However, a day later, according to the victim, he was fired saying the 'job offer was being rescinded'.&nbsp;</p>

<p>Santos or his lawyers have not commented on the sexual harassment issue but stated that the aide was fired because of his&nbsp;Ohio charges.&nbsp;</p>

<p><a href="https://www.wionews.com/world/george-santos-in-hot-soup-for-saying-911-attacks-claimed-my-mothers-life-547999" target="_blank"><strong>Read more: George Santos in hot soup for saying 9/11 attacks ‘claimed my mother’s life’</strong></a></p>

<p>This is not the first instance where Santos has found himself in a spot of bother. He is already facing local, state, federal and international investigations over professional and personal behaviour.</p>

<p>Recently. Santos came under fire for using a fudged resume, which he acknowledged was fabricated.&nbsp;</p>

<p><em>(With inputs from agencies)</em></p>

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Embattled Republican leader George Santos has found himself mired in yet another controversy. A former aide has accused the New York congressman of sexual harassment by writing a letter to the House Ethics Committee.

Embattled Republican leader George Santos has found himself mired in yet another controversy. A former aide has accused the New York congressman of sexual harassment by writing a letter to the House Ethics Committee. The alleged victim had joined the Republican leader's office last month as a volunteer. He stated that the incident transpired on January 25, two days after he was hired and when he was alone with Santos in his personal office. The Congressman had earlier asked the aide if he had a 'Grindr' profile, which is a widely known LGBTQ+ social networking app. When helping Santos with his mail in the office, the New York Rep-elect called him a 'buddy' and insisted that he sit next to him on a small sofa. "The Congressman stopped me by placing his hand on my left leg, near my knee and saying, "Hey buddy, we're going to karaoke tonight. Would you like to go?" wrote the aide in the letter. "I kindly declined the invitation by telling the Congressman I was not a fan of clubs and bars and that I was not a good singer. The Congressman proceeded to take his hand and move it down my leg into my inner-thigh and proceeded to touch my groin." These matters will not be litigated on social media or through news media. They are serious offenses and the evidence and facts will speak for themselves if the committee takes up the matter. This tweet is being made public in light of transparency. pic.twitter.com/oSs4F3xyqc — Derek Myers (@DerekMyers) February 3, 2023 × WATCH | Embattled George Santos refuses to resign amid calls for him to step down × Santos tried to persuade the victim by stating that his husband was out of town. However, the aide changed the topic and shortly after, left the office. Five days later, he was called to Santos' office again and asked about his background as a journalist in Ohio. The said individual had faced wiretapping charges in the state, which were earlier disclosed to the hiring managers. However, a day later, according to the victim, he was fired saying the 'job offer was being rescinded'. Santos or his lawyers have not commented on the sexual harassment issue but stated that the aide was fired because of his Ohio charges. Read more: George Santos in hot soup for saying 9/11 attacks ‘claimed my mother’s life’ This is not the first instance where Santos has found himself in a spot of bother. He is already facing local, state, federal and international investigations over professional and personal behaviour. Recently. Santos came under fire for using a fudged resume, which he acknowledged was fabricated. (With inputs from agencies) WATCH WION LIVE HERE:

Embattled Republican leader George Santos accused of sexual harassment by a former aide

Republicans of the US House of Representatives have voted to oust Democrat Ilhan Omar from a high profile committee. This over remarks which have been widely condemned as anti-semitic.

US: Republicans oust Ilhan Omar from high-profile House committee

The US has hit its borrowing cap of $31.4 trillion and the treasury has now started taking 'extraordinary measures' to prevent a debt default. This comes as the US Congress heads towards a high-stakes clash between Democrats and Republicans over raising the borrowing limit.

US hits debt ceiling of $31.4 trillion, treasury taking 'emergency measures'

<p>The US has hit its borrowing limit, also known as the debt ceiling, fueling fears of putting global markets in instability and setting off a budgetary battle in Congress. The looming debt ceiling crisis unsettles investors, as any default will have a major impact on the international financial markets.</p>

<p>So, what exactly is the debt ceiling, or borrowing cap, and why is it such a big deal?</p>

<h2><strong>What is a debt ceiling?</strong></h2>

<p>The debt ceiling determines how much money the US government can borrow for its expenses. After the borrowing cap is reached, the Treasury Department is not permitted to raise money for the government by issuing further bills, bonds, or notes. In this situation, the only source of funding for the country is tax revenues. Currently, the cap on the US government borrowing equates to around 120 per cent of the nation's yearly economic output.</p>

<h2><strong>Where is the borrowed money used?</strong></h2>

<p>US Congress determines the borrowing limit presently set at $31.4 trillion. The Federal government uses borrowed money to help pay for costs included in its budgets, such as social security and Medicare payouts and the salaries of US military and government workers.</p>

<h2><strong>How long can the US government survive?</strong></h2>

<p>Janet Yellen, the US Treasury Secretary, stated last week that the government could only pay its payments through early June if the debt ceiling is not increased. Yellen said that "extraordinary measures" are now being used to stop the United States from going into default on its financial expenses. However, Yellen's estimate for the "drop-dead date" is earlier than some experts had predicted for the US to exhaust its borrowing limit.</p>

<p>Indeed, many experts believe the US could reach its debt ceiling in the third or fourth quarter. According to Jonathan Cohn, Head of Rates Trading Strategy at Credit Suisse in New York, the debt ceiling may be hit between September and early November. Goldman Sachs expects the US government to run out of money anytime between August and October.</p>

<h2><strong>Can the US then raise the debt ceiling?</strong></h2>

<p>The borrowing cap has to be raised, so the US government continues to make its payments due and prevent a default. The political situation, though, is not favourable. Republicans run the House of Representatives, while Democrats have a majority in the Senate. Congress is reluctant to raise the debt ceiling because it might provide Republicans with leverage when negotiating spending cuts.</p>

<h2><strong>Democrats vs Republicans:</strong></h2>

<p>In a conversation with Fox News, newly appointed US House Speaker Kevin McCarthy said one could not just keep increasing the debt ceiling. "Let's sit down and change our behaviour for the good of America. Because what we're going to do is bankrupt this country and these entitlements if we don't change their behaviour today." On the contrary, White House press secretary, Karine Jean-Pierre, said the administration would not be negotiating. If the debt ceiling is to be raised, it should be done without any conditions.</p>

<h2><strong>What if the debt ceiling is not raised?</strong></h2>

<p>If the US government cannot borrow more money, it will put existing Federal programs at risk. Investors will get jittery if the verbal battle is not resolved and no further action is taken to address the situation. The US dollar may also lose its global appeal if the Federal government defaults on its loan and interest payments. That, in turn, would weaken the greenback, hurt US financial markets and weigh on the economy, including job losses and activity gloom.</p>

<h2><strong>2011 political deadlock over the debt ceiling:</strong></h2>

<p>The United States was on the verge of default in 2011 due to political deadlock in Washington over the debt ceiling. That crashed US stocks and cost the nation its top-tier AAA credit rating from Standard &amp; Poor. According to a research report from Goldman Sachs, the S&amp;P 500 plummeted 15 per cent during the 2011 crisis, while the stock of those firms with the highest sales exposure to US federal spending fell by a quarter.</p>

<p>&nbsp;</p>


The US has hit its borrowing limit, also known as the debt ceiling, fueling fears of putting global markets in instability and setting off a budgetary battle in Congress.

The US has hit its borrowing limit, also known as the debt ceiling, fueling fears of putting global markets in instability and setting off a budgetary battle in Congress. The looming debt ceiling crisis unsettles investors, as any default will have a major impact on the international financial markets. So, what exactly is the debt ceiling, or borrowing cap, and why is it such a big deal? What is a debt ceiling? The debt ceiling determines how much money the US government can borrow for its expenses. After the borrowing cap is reached, the Treasury Department is not permitted to raise money for the government by issuing further bills, bonds, or notes. In this situation, the only source of funding for the country is tax revenues. Currently, the cap on the US government borrowing equates to around 120 per cent of the nation's yearly economic output. Where is the borrowed money used? US Congress determines the borrowing limit presently set at $31.4 trillion. The Federal government uses borrowed money to help pay for costs included in its budgets, such as social security and Medicare payouts and the salaries of US military and government workers. How long can the US government survive? Janet Yellen, the US Treasury Secretary, stated last week that the government could only pay its payments through early June if the debt ceiling is not increased. Yellen said that "extraordinary measures" are now being used to stop the United States from going into default on its financial expenses. However, Yellen's estimate for the "drop-dead date" is earlier than some experts had predicted for the US to exhaust its borrowing limit. Indeed, many experts believe the US could reach its debt ceiling in the third or fourth quarter. According to Jonathan Cohn, Head of Rates Trading Strategy at Credit Suisse in New York, the debt ceiling may be hit between September and early November. Goldman Sachs expects the US government to run out of money anytime between August and October. Can the US then raise the debt ceiling? The borrowing cap has to be raised, so the US government continues to make its payments due and prevent a default. The political situation, though, is not favourable. Republicans run the House of Representatives, while Democrats have a majority in the Senate. Congress is reluctant to raise the debt ceiling because it might provide Republicans with leverage when negotiating spending cuts. Democrats vs Republicans: In a conversation with Fox News, newly appointed US House Speaker Kevin McCarthy said one could not just keep increasing the debt ceiling. "Let's sit down and change our behaviour for the good of America. Because what we're going to do is bankrupt this country and these entitlements if we don't change their behaviour today." On the contrary, White House press secretary, Karine Jean-Pierre, said the administration would not be negotiating. If the debt ceiling is to be raised, it should be done without any conditions. What if the debt ceiling is not raised? If the US government cannot borrow more money, it will put existing Federal programs at risk. Investors will get jittery if the verbal battle is not resolved and no further action is taken to address the situation. The US dollar may also lose its global appeal if the Federal government defaults on its loan and interest payments. That, in turn, would weaken the greenback, hurt US financial markets and weigh on the economy, including job losses and activity gloom. 2011 political deadlock over the debt ceiling: The United States was on the verge of default in 2011 due to political deadlock in Washington over the debt ceiling. That crashed US stocks and cost the nation its top-tier AAA credit rating from Standard & Poor. According to a research report from Goldman Sachs, the S&P 500 plummeted 15 per cent during the 2011 crisis, while the stock of those firms with the highest sales exposure to US federal spending fell by a quarter.

EXPLAINED: What's US debt ceiling & why is it such a big deal?

Embattled US representative George Santos has clearly defied the call of top Republicans to step down from his position as he said that he has no plans whatsoever to resign.

US: George Santos rejects calls to resign, refuses to step down

A divided House voted on Tuesday to launch a wide-ranging investigation into federal law enforcement and national security agencies. Watch this report to know more.

House Republicans form committee to investigate 'weaponisation' of government

<p>After four contentious days, 15 rounds of voting, and the fifth longest contest in history, the United States House of Representatives has finally chosen California Republican, Kevin McCarthy as the next speaker of the Congress as it convenes for its 118th session.&nbsp;</p>

<p>The 15th round vote took place between late Friday and early Saturday (January 7) after what can only be described as days of drama and a series of events on Capitol Hill as McCarthy scrambled to secure enough votes for the gavel following painstaking negotiations. The Republican lawmaker from California won after the longest election bid for the 435-member chamber speaker in 164 years.&nbsp;</p>

<p><strong>McCarthy’s journey to the gavel</strong></p>

<p>The deadlock began on January 3 when the Congress convened for the new session and the voting for the next House speaker, typically the first order of business, commenced. Notably, even weeks prior to the first round of voting, McCarthy’s bid to take the top post in the chamber was uncertain at best.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/world/kevin-mccarthy-loses-14th-round-of-voting-us-house-still-without-speaker-550188">Kevin McCarthy finally elected House speaker after 15 rounds of voting spread across four days</a></strong></p>

<p>After the midterm elections, last year, the Republicans took over the House with a narrow majority of 222-213 from the Democrats and the outgoing speaker Nancy Pelosi. Subsequently, in the same month after a closed-door meeting of the GOP conference, McCarthy emerged as the leader of the House for his party. However, the members are not obligated to vote for the party’s chosen candidate.&nbsp;</p>

<p>In fact, while the person typically is a member of the House, it is not required. It opens the speaker's candidacy to a range of lawmakers including Senators, former president Donald Trump and incumbent president Joe Biden, though none of them has won a majority yet. Once the chamber had the minimum number of members present to proceed or quorum, the Democrats nominated their leader Hakeem Jeffries for the speaker while the Republicans nominated Kevin McCarthy.&nbsp;</p>

<p>What followed can only be described as chaos, as McCarthy scrambled to garner the majority, which is typically at least 218 votes. However, he was unable to do so, making it the first time in a century that the House did not elect its speaker after one round of voting. This successfully halted major functions in Washington as not only does the lawmaker preside over the lower chamber of Congress they would also be next in line for the presidency.&nbsp;</p>

<p><strong>ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/mccarthy-elected-house-speaker-after-15-votes-and-days-of-negotiations-550226">McCarthy elected House speaker after 15 votes and days of negotiations</a></strong></p>

<p>McCarthy’s bid for the speakership faced a range of hurdles but predominantly it was a small group of hardliners from his own party. While this situation is not necessarily unique it proved to be quite a roadblock for the California Republican since he was unable to secure a majority even after multiple rounds of voting.&nbsp;</p>

<p><strong>What happened on late Friday and early Saturday?</strong></p>

<p>Kevin McCarthy became the House speaker after 15 rounds of voting and tense negotiations for days with a small but critical group of lawmakers of the Republican party who demanded concessions that essentially resulted in diluting his power as the speaker. After the 14th round of voting the 57-year-old Californian lawmaker who seemed confident earlier faced humiliation after Representative Matt Gaetz withheld his vote.&nbsp;</p>

<p>In the 14th of voting, McCarthy managed to garner, 216 votes while the Democratic candidate for speaker Jeffries received 212. Meanwhile, Republican Andy Biggs received support from 2 representatives, as did Republican Jim Jordan. However, with six Republicans choosing another candidate and the other six withholding their vote McCarthy was one vote away from victory.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/world/us-house-adjourned-as-republican-speaker-nominee-kevin-mccarthy-loses-sixth-ballot-549530">US House adjourned as Republican speaker nominee Kevin McCarthy loses sixth ballot</a></strong></p>

<p>After an hour-long recess lawmakers returned for a 15th round of voting marking the first time in over a century and a half in US history. Subsequently, the decision was up to Florida lawmaker, Gaetz, who had initially walked out of the chamber when his name was first called during the 14th round and voted “present” for the 15th round.&nbsp;</p>

<p>However, Gaetz withheld his vote in the previous round which prompted a scuffle where a clip shows several lawmakers approaching the Florida representative on the House floor after McCarthy spoke to him and the situation escalated to a point where a Republican Mike Rogers had to be physically pulled away from nearly lunging at Gaetz.&nbsp;</p>

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<p dir="ltr" lang="en">Kevin McCarthy confronts Matt Gaetz during 14th House Speaker vote. <a href="https://twitter.com/hashtag/118thCongress?src=hash&amp;ref_src=twsrc%5Etfw">#118thCongress</a> <a href="https://t.co/nMa9bm0KSN">pic.twitter.com/nMa9bm0KSN</a></p>
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<p>Amid a series of discussions and negotiations on the floor between Republican lawmakers on the House floor, Representative Andy Biggs (Arizona), Representative Elijah Crane (Arizona) and Representative Bob Good (Virginia) changed their votes to “present” ultimately lowering the threshold which McCarthy needed to win with the same amount of votes received. &nbsp;</p>

<p><strong>Who was opposing him?</strong></p>

<p>Here are the 20 Republican lawmakers that opposed McCarthy’s bid for the gavel as of Thursday, prior to the negotiations with the California Republican and his allies, after which some voted “present” and some switched their votes mostly around the 11th and 12th ballot conducted on Friday.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/world/explained-will-the-us-house-have-a-speaker-before-it-convenes-549146">Explained: Will the US House of Representatives have a speaker when it convenes?</a></strong></p>

<p>According to a report by CBS, the Republican lawmakers were, Andy Biggs (Arizona), Dan Bishop (North Carolina), Lauren Boebert (Colorado), Representative-elect Josh Brecheen (Oklahoma), Michael Cloud (Texas), Andrew Clyde (Georgia), Representative-elect Eli Crane (Arizona), Byron Donalds (Florida), Matt Gaetz (Florida), Bob Good (Virginia), Paul Gosar (Arizona), Andy Harris (Maryland), Representative-elect Anna Paulina Luna (Florida), Mary Miller (Illinois), Ralph Norman (South Carolina), Andy Ogles (Tennessee), Scott Perry (Pennsylvania), Matt Rosendale (Montana), Chip Roy (Texas), and Keith Self (Texas).&nbsp;<br />
<br />
<strong>What are some of the concessions made?</strong></p>

<p>In a dramatic shift after several rounds of voting, McCarthy and his allies managed to flip at least a dozen votes before the 14th round of voting on Friday. According to a report by CNN, one of the most significant ones includes a provision that any member can call for a motion to vacate the speaker’s chair, which would make it easier to trigger what is essentially a no-confidence vote for the speaker.&nbsp;</p>

<p>Additionally, the report also spoke about provisions about pairing the efforts to raise the nation’s debt ceiling with spending cuts. This comes after Republicans have repeatedly shut down much of the government and pushed the world’s largest borrowers to the brink of default in efforts to extract steep spending cuts.&nbsp;</p>

<p><strong>ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/us-house-logjam-day-4-of-voting-for-us-house-speaker-today-550101">US House Logjam: Day 4 of voting for US house speaker today</a></strong></p>

<p>However, they have not been able to do so as Democrats in the Senate and the White House have long opposed spending cuts. Another provision includes moving 12 appropriations bills individually rather than one “omnibus” year-end spending package which rolls everything into one bill which conservatives have railed against for a few years now as they believe it evades oversight, said a report by CNN.&nbsp;</p>

<p>McCarthy has also reportedly agreed to cap spending for the upcoming fiscal year at 2022’s levels which would amount to a significant cut in spending affecting defence and domestic programmes amid high inflation and population growth in the US. The incumbent speaker has agreed to restore the Holman rule, which could lead to salary cuts for government officials and also said that he would create an investigative committee to probe the “weaponization” of the federal government, said a report by CNN.&nbsp;</p>

<p>These concessions along with others effectively lower McCarthy’s power as the US House speaker which Senate Majority Leader and Democrat Chuck Schumer, warned would “will cause a government shutdown or a default with devastating consequences to our country.” In a statement after McCarthy’s win, Schummer said, “Speaker Kevin McCarthy’s dream job could turn into a nightmare for the American people…To get the votes, he surrendered to demands of a fringe element of the Republican party.”</p>

<p><strong>What happened in the House after McCarthy won?</strong></p>

<p>After the results were announced the Republican conference was seen clapping and hugging McCarthy as he passed them on the House floor who subsequently expressed relief and said, “I’m glad it’s over”. The Republican lawmaker received the gavel at 1:00 am (local time) and said, “I never thought we'd get up here.” The Republican lawmaker was then sworn into office along with other members of Congress marking the end of the weeks of deadlock.&nbsp;</p>

<p><strong>ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/us-house-adjourns-without-electing-speaker-mccarthy-loses-3rd-us-house-speaker-vote-549229">US House adjourns without electing speaker; McCarthy loses 3rd US House speaker vote</a></strong></p>

<p>In his speech, he also spoke about holding the government accountable, “It's time for us to be a check and provide some balance to the president’s policies”, referring to the incumbent President Joe Biden and his administration. He added, “We commit to stop wasteful Washington spending, to lower the price of groceries, gas, cars, housing, and stop the rising national debt.”&nbsp;</p>

<p>“We'll also address America's long-term challenges, the debt and the rise of the Chinese communist party,” said McCarthy and went on to speak about China and how the new House of Representatives wants the US to win against Beijing in the economic competition.&nbsp;</p>

<p>&nbsp;“As for the Chinese communist party, we will create a bipartisan select committee on China to investigate how to bring back the hundreds of thousands of jobs that went to China, and then we will win this economic competition,” said the new House speaker. In his first speech after becoming the speaker, addressing his colleagues he said, “Now the hard work begins.”&nbsp;</p>

<p>Meanwhile, Leader of House Minority and Democrat Hakeem Jeffries made history by becoming the first black lawmaker to lead a party in Congress. The Democrat from New York will take over as former House Speaker Nancy Pelosi is stepping down. He was selected by the Democratic caucus after the midterm elections in November. Notably, the 52-year-old is also the first leader of the House Democrats to be born after the end of World War II.&nbsp;</p>

<p><strong>ALSO READ | <a href="https://www.wionews.com/trending/who-is-hakeem-jeffries-the-first-black-lawmaker-nominee-for-house-speaker-know-everything-about-him-549423">Who is Hakeem Jeffries? The first black lawmaker nominee for house speaker, know everything about him</a></strong><br />
<br />
Addressing Jeffries, McCarthy said, “our debates will be passionate and they will never be personal.” On the other hand, the minority leader also delivered a speech about the Biden administration and Democratic Party’s accomplishments including the American Rescue Plan and the Inflation Reduction Act.&nbsp;</p>

<p>He also went on to acknowledge his predecessor and said, “Without question in my mind, Speaker Emerita Pelosi will go down in history as the greatest speaker of all time…Throughout her time in Congress, she's been a legendary legislator, a fabulous facilitator and a no-nonsense negotiator.” The House is now adjourned until 5:00 pm (local time) Monday.&nbsp;<br />
<br />
<strong>Biden and Trump congratulate the new House speaker&nbsp;</strong></p>

<p>In a statement after the vote, the US president congratulated the new speaker and said, “Jill and I congratulate Kevin McCarthy on his election as Speaker of the House. As I said after the midterms, I am prepared to work with Republicans when I can and voters made clear that they expect Republicans to be prepared to work with me as well.”</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/world/us-announces-3-billion-in-aid-package-for-ukraine-including-bradley-armoured-vehicles-550147">US announces $3 billion in aid package for Ukraine, including Bradley armoured vehicles</a></strong><br />
<br />
Meanwhile, former US President Donald Trump also took to his social media platform Truth social and said, “ The 'Speaker' selection process, as crazy as it may seem, has made it all much bigger and more important than if done the more conventional way.” He added, “Congratulations to Kevin McCarthy and our GREAT Republican Party!” reported CNN.&nbsp;</p>

<p><br />
<em>(With inputs from agencies)&nbsp;</em><br />
&nbsp;</p>

<p><strong>WATCH WION LIVE HERE</strong></p>

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After four contentious days, 15 rounds of voting, and the fifth longest contest in history, the United States House of Representatives has finally chosen California Republican, Kevin McCarthy as the next speaker of the Congress as it convenes for its 118th session.

After four contentious days, 15 rounds of voting, and the fifth longest contest in history, the United States House of Representatives has finally chosen California Republican, Kevin McCarthy as the next speaker of the Congress as it convenes for its 118th session. The 15th round vote took place between late Friday and early Saturday (January 7) after what can only be described as days of drama and a series of events on Capitol Hill as McCarthy scrambled to secure enough votes for the gavel following painstaking negotiations. The Republican lawmaker from California won after the longest election bid for the 435-member chamber speaker in 164 years. McCarthy’s journey to the gavel The deadlock began on January 3 when the Congress convened for the new session and the voting for the next House speaker, typically the first order of business, commenced. Notably, even weeks prior to the first round of voting, McCarthy’s bid to take the top post in the chamber was uncertain at best. ALSO READ | Kevin McCarthy finally elected House speaker after 15 rounds of voting spread across four days After the midterm elections, last year, the Republicans took over the House with a narrow majority of 222-213 from the Democrats and the outgoing speaker Nancy Pelosi. Subsequently, in the same month after a closed-door meeting of the GOP conference, McCarthy emerged as the leader of the House for his party. However, the members are not obligated to vote for the party’s chosen candidate. In fact, while the person typically is a member of the House, it is not required. It opens the speaker's candidacy to a range of lawmakers including Senators, former president Donald Trump and incumbent president Joe Biden, though none of them has won a majority yet. Once the chamber had the minimum number of members present to proceed or quorum, the Democrats nominated their leader Hakeem Jeffries for the speaker while the Republicans nominated Kevin McCarthy. What followed can only be described as chaos, as McCarthy scrambled to garner the majority, which is typically at least 218 votes. However, he was unable to do so, making it the first time in a century that the House did not elect its speaker after one round of voting. This successfully halted major functions in Washington as not only does the lawmaker preside over the lower chamber of Congress they would also be next in line for the presidency. ALSO WATCH | McCarthy elected House speaker after 15 votes and days of negotiations McCarthy’s bid for the speakership faced a range of hurdles but predominantly it was a small group of hardliners from his own party. While this situation is not necessarily unique it proved to be quite a roadblock for the California Republican since he was unable to secure a majority even after multiple rounds of voting. What happened on late Friday and early Saturday? Kevin McCarthy became the House speaker after 15 rounds of voting and tense negotiations for days with a small but critical group of lawmakers of the Republican party who demanded concessions that essentially resulted in diluting his power as the speaker. After the 14th round of voting the 57-year-old Californian lawmaker who seemed confident earlier faced humiliation after Representative Matt Gaetz withheld his vote. In the 14th of voting, McCarthy managed to garner, 216 votes while the Democratic candidate for speaker Jeffries received 212. Meanwhile, Republican Andy Biggs received support from 2 representatives, as did Republican Jim Jordan. However, with six Republicans choosing another candidate and the other six withholding their vote McCarthy was one vote away from victory. ALSO READ | US House adjourned as Republican speaker nominee Kevin McCarthy loses sixth ballot After an hour-long recess lawmakers returned for a 15th round of voting marking the first time in over a century and a half in US history. Subsequently, the decision was up to Florida lawmaker, Gaetz, who had initially walked out of the chamber when his name was first called during the 14th round and voted “present” for the 15th round. However, Gaetz withheld his vote in the previous round which prompted a scuffle where a clip shows several lawmakers approaching the Florida representative on the House floor after McCarthy spoke to him and the situation escalated to a point where a Republican Mike Rogers had to be physically pulled away from nearly lunging at Gaetz. Kevin McCarthy confronts Matt Gaetz during 14th House Speaker vote. #118thCongress pic.twitter.com/nMa9bm0KSN — CSPAN (@cspan) January 7, 2023 × Amid a series of discussions and negotiations on the floor between Republican lawmakers on the House floor, Representative Andy Biggs (Arizona), Representative Elijah Crane (Arizona) and Representative Bob Good (Virginia) changed their votes to “present” ultimately lowering the threshold which McCarthy needed to win with the same amount of votes received. Who was opposing him? Here are the 20 Republican lawmakers that opposed McCarthy’s bid for the gavel as of Thursday, prior to the negotiations with the California Republican and his allies, after which some voted “present” and some switched their votes mostly around the 11th and 12th ballot conducted on Friday. ALSO READ | Explained: Will the US House of Representatives have a speaker when it convenes? According to a report by CBS, the Republican lawmakers were, Andy Biggs (Arizona), Dan Bishop (North Carolina), Lauren Boebert (Colorado), Representative-elect Josh Brecheen (Oklahoma), Michael Cloud (Texas), Andrew Clyde (Georgia), Representative-elect Eli Crane (Arizona), Byron Donalds (Florida), Matt Gaetz (Florida), Bob Good (Virginia), Paul Gosar (Arizona), Andy Harris (Maryland), Representative-elect Anna Paulina Luna (Florida), Mary Miller (Illinois), Ralph Norman (South Carolina), Andy Ogles (Tennessee), Scott Perry (Pennsylvania), Matt Rosendale (Montana), Chip Roy (Texas), and Keith Self (Texas). What are some of the concessions made? In a dramatic shift after several rounds of voting, McCarthy and his allies managed to flip at least a dozen votes before the 14th round of voting on Friday. According to a report by CNN, one of the most significant ones includes a provision that any member can call for a motion to vacate the speaker’s chair, which would make it easier to trigger what is essentially a no-confidence vote for the speaker. Additionally, the report also spoke about provisions about pairing the efforts to raise the nation’s debt ceiling with spending cuts. This comes after Republicans have repeatedly shut down much of the government and pushed the world’s largest borrowers to the brink of default in efforts to extract steep spending cuts. ALSO WATCH | US House Logjam: Day 4 of voting for US house speaker today However, they have not been able to do so as Democrats in the Senate and the White House have long opposed spending cuts. Another provision includes moving 12 appropriations bills individually rather than one “omnibus” year-end spending package which rolls everything into one bill which conservatives have railed against for a few years now as they believe it evades oversight, said a report by CNN. McCarthy has also reportedly agreed to cap spending for the upcoming fiscal year at 2022’s levels which would amount to a significant cut in spending affecting defence and domestic programmes amid high inflation and population growth in the US. The incumbent speaker has agreed to restore the Holman rule, which could lead to salary cuts for government officials and also said that he would create an investigative committee to probe the “weaponization” of the federal government, said a report by CNN. These concessions along with others effectively lower McCarthy’s power as the US House speaker which Senate Majority Leader and Democrat Chuck Schumer, warned would “will cause a government shutdown or a default with devastating consequences to our country.” In a statement after McCarthy’s win, Schummer said, “Speaker Kevin McCarthy’s dream job could turn into a nightmare for the American people…To get the votes, he surrendered to demands of a fringe element of the Republican party.” What happened in the House after McCarthy won? After the results were announced the Republican conference was seen clapping and hugging McCarthy as he passed them on the House floor who subsequently expressed relief and said, “I’m glad it’s over”. The Republican lawmaker received the gavel at 1:00 am (local time) and said, “I never thought we'd get up here.” The Republican lawmaker was then sworn into office along with other members of Congress marking the end of the weeks of deadlock. ALSO WATCH | US House adjourns without electing speaker; McCarthy loses 3rd US House speaker vote In his speech, he also spoke about holding the government accountable, “It's time for us to be a check and provide some balance to the president’s policies”, referring to the incumbent President Joe Biden and his administration. He added, “We commit to stop wasteful Washington spending, to lower the price of groceries, gas, cars, housing, and stop the rising national debt.” “We'll also address America's long-term challenges, the debt and the rise of the Chinese communist party,” said McCarthy and went on to speak about China and how the new House of Representatives wants the US to win against Beijing in the economic competition. “As for the Chinese communist party, we will create a bipartisan select committee on China to investigate how to bring back the hundreds of thousands of jobs that went to China, and then we will win this economic competition,” said the new House speaker. In his first speech after becoming the speaker, addressing his colleagues he said, “Now the hard work begins.” Meanwhile, Leader of House Minority and Democrat Hakeem Jeffries made history by becoming the first black lawmaker to lead a party in Congress. The Democrat from New York will take over as former House Speaker Nancy Pelosi is stepping down. He was selected by the Democratic caucus after the midterm elections in November. Notably, the 52-year-old is also the first leader of the House Democrats to be born after the end of World War II. ALSO READ | Who is Hakeem Jeffries? The first black lawmaker nominee for house speaker, know everything about him Addressing Jeffries, McCarthy said, “our debates will be passionate and they will never be personal.” On the other hand, the minority leader also delivered a speech about the Biden administration and Democratic Party’s accomplishments including the American Rescue Plan and the Inflation Reduction Act. He also went on to acknowledge his predecessor and said, “Without question in my mind, Speaker Emerita Pelosi will go down in history as the greatest speaker of all time…Throughout her time in Congress, she's been a legendary legislator, a fabulous facilitator and a no-nonsense negotiator.” The House is now adjourned until 5:00 pm (local time) Monday. Biden and Trump congratulate the new House speaker In a statement after the vote, the US president congratulated the new speaker and said, “Jill and I congratulate Kevin McCarthy on his election as Speaker of the House. As I said after the midterms, I am prepared to work with Republicans when I can and voters made clear that they expect Republicans to be prepared to work with me as well.” ALSO READ | US announces $3 billion in aid package for Ukraine, including Bradley armoured vehicles Meanwhile, former US President Donald Trump also took to his social media platform Truth social and said, “ The 'Speaker' selection process, as crazy as it may seem, has made it all much bigger and more important than if done the more conventional way.” He added, “Congratulations to Kevin McCarthy and our GREAT Republican Party!” reported CNN. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Kevin McCarthy becomes US House speaker after historic 15 rounds of voting: Here's what happened

U.S. lawmakers will try for a fourth day Friday to elect a speaker of the U.S. House of Representatives as a group of 20 conservatives continued to block Republican Leader Kevin McCarthy’s bid for the post. VOA Congressional Correspondent Katherine Gypson has reaction from Capitol Hill.

Conservatives Deny McCarthy Speakership for Third Day

The U.S. House of Representatives elected GOP leader Kevin McCarthy of California as speaker in a dramatic 15th vote. Watch this video to know more.

Republican McCarthy elected House Speaker on 15th vote in historic run

The newly-elected US House of representatives has again failed to elect their speaker after 11 rounds of voting in the last three days. GOP members are now warning that the impasse could have been implications on national security related issues.

Gravitas Global Headlines: US House Logjam: Day 4 of voting for US house speaker today

Republican Kevin McCarthy has suffered his 14th defeat, failing to secure the votes needed to lead the US House of Representatives, Watch this video to know more.

News Alert: Republican McCarthy loses 14th attempt to become U.S. House speaker

<p>The US House of Representatives was adjourned till 2200 hours ET (0300 GMT) after a failed 13th ballot to elect the next speaker.&nbsp;</p>

<p>While Republican speaker nominee Kevin McCarthy failed to gain the desired votes to become the speaker, he managed to make substantial headways, after three days of monotony.&nbsp;</p>

<p>On Friday afternoon, during the 12th and 13th ballots, McCarthy managed to flip 14 GOP lawmakers cumulatively who had previously not voted for him. McCarthy managed to have 214 votes in his favour while Democrat nominee Hakeem Jeffries had 212.&nbsp;</p>

<p>With two Republican leaders expected to not play any further part in the House proceedings due to personal reasons, the magical figure for McCarthy lies at 216, instead of the previous 218.&nbsp;House Speaker Nancy Pelosi was elected with the same number of votes in 2021.&nbsp;</p>

<p>Media reports suggest that McCarthy's team engaged in overnight negotiations with the rebels and even held a conference call in the morning to make the gains.&nbsp;</p>

<p>However, Matt Gaetz,&nbsp;Andy Biggs, Bob Good, Lauren Boebert and Matt Rosendale remain the five Republican leaders, adamant about not voting McCarthy into power. Notably, Mccarthy, the House minority leader can only afford four Republicans to vote against him.&nbsp;</p>

<p><a href="https://www.wionews.com/videos/us-house-logjam-day-4-of-voting-for-us-house-speaker-today-550101"><strong>WATCH |&nbsp;US House Logjam: Day 4 of voting for US house speaker today</strong></a></p>

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<p>After being rather dormant throughout the proceedings, McCarthy finally had an air of confidence about him as he suggested that the lawmakers will get the job done tonight.&nbsp;</p>

<p>"We’ll come back tonight. I believe at that time we’ll have the votes to finish this once and for all," said McCarthy.&nbsp;</p>

<p>"It just reminds me of what my father always told me. It’s not how you start. It’s how you finish. And now we have to finish for the American public."</p>

<p>Though McCarthy sounded optimistic, he had to make numerous concessions to the holdouts, according to several reports. McCarthy has reportedly accepted to bring back the rule that allows any member to bring the 'motion to vacate' which will trigger a vote on removing the speaker.&nbsp;</p>

<p><a href="https://www.wionews.com/world/us-house-speaker-contest-enters-11th-ballot-breaks-a-164-year-record-549879"><strong>Read more:&nbsp;US House adjourned: McCarthy loses 11th ballot in the longest speaker contest in 164 years</strong></a></p>

<p>Other concessions include expanding the number of seats in the powerful House Rules Committee and attempting to bring a constitutional amendment that will impose term limits on members of the House and Senate.&nbsp;</p>

<p><em>(With inputs from agencies)&nbsp;</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

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The US House of Representatives was adjourned till 2200 hours ET (0300 GMT) after a failed 13th ballot to elect the next speaker. While Republican speaker nominee Kevin McCarthy failed to gain the desired votes to become the speaker, he managed to make substantial headways, after three days of monotony.

The US House of Representatives was adjourned till 2200 hours ET (0300 GMT) after a failed 13th ballot to elect the next speaker. While Republican speaker nominee Kevin McCarthy failed to gain the desired votes to become the speaker, he managed to make substantial headways, after three days of monotony. On Friday afternoon, during the 12th and 13th ballots, McCarthy managed to flip 14 GOP lawmakers cumulatively who had previously not voted for him. McCarthy managed to have 214 votes in his favour while Democrat nominee Hakeem Jeffries had 212. With two Republican leaders expected to not play any further part in the House proceedings due to personal reasons, the magical figure for McCarthy lies at 216, instead of the previous 218. House Speaker Nancy Pelosi was elected with the same number of votes in 2021. Media reports suggest that McCarthy's team engaged in overnight negotiations with the rebels and even held a conference call in the morning to make the gains. However, Matt Gaetz, Andy Biggs, Bob Good, Lauren Boebert and Matt Rosendale remain the five Republican leaders, adamant about not voting McCarthy into power. Notably, Mccarthy, the House minority leader can only afford four Republicans to vote against him. WATCH | US House Logjam: Day 4 of voting for US house speaker today × After being rather dormant throughout the proceedings, McCarthy finally had an air of confidence about him as he suggested that the lawmakers will get the job done tonight. "We’ll come back tonight. I believe at that time we’ll have the votes to finish this once and for all," said McCarthy. "It just reminds me of what my father always told me. It’s not how you start. It’s how you finish. And now we have to finish for the American public." Though McCarthy sounded optimistic, he had to make numerous concessions to the holdouts, according to several reports. McCarthy has reportedly accepted to bring back the rule that allows any member to bring the 'motion to vacate' which will trigger a vote on removing the speaker. Read more: US House adjourned: McCarthy loses 11th ballot in the longest speaker contest in 164 years Other concessions include expanding the number of seats in the powerful House Rules Committee and attempting to bring a constitutional amendment that will impose term limits on members of the House and Senate. (With inputs from agencies) WATCH WION LIVE HERE:

Kevin McCarthy claims he'll win the speaker vote as the House is adjourned ahead of 14th ballot

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