Biden, McCarthy Locked in Debt Standoff With New Deadline on Tap
- McCarthy struggles to rally support for bill with vote planned
- White House demurring on meeting it said it would take
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President Joe Biden and House Speaker Kevin McCarthy are set to enter the next stage of the debt ceiling standoff, with a key vote and fresh Treasury data that could raise the urgency for a deal.
The Treasury Department, based on fresh tax revenue data, is set to release an updated estimate of the so-called “X date” when extraordinary measures are exhausted and the US can no longer meet its obligations. The new estimate is expected this week or next.