debt ceiling
Must-do: What Congress has left on its plate at year's halfway mark
Fox News senior congressional correspondent Chad Pergram reports on the outcome of the debt limit bill and how both sides responded on'Your World.' There wasn't a lot Congress absolutely had to accomplish legislatively this year. And overall, the floor traffic will likely be light until fall. There are really only about five things which Congress must do this year. With the pages halfway off the calendar, lawmakers have taken care of two of the five.
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Republicans demand government default avoidance details from Treasury, ask about 'contingency planning'
Fox News senior congressional correspondent Chad Pergram has more on the fiscal trajectory as the Congressional Budget Office warns the country could default sometime between July and September on'Special Report.' House Republicans are demanding more information from Treasury Secretary Janet Yellen on what – if any – safeguards are in place to keep the economy from careening off a cliff if the debt ceiling is not increased and the government is forced to make tough spending choices. House Financial Services Chairman Patrick McHenry, R-N.C., asked Yellen in a Tuesday letter exactly how long the government will be able to operate now that it has hit the $31.4 trillion debt ceiling and asked for an exact date. McHenry asked Yellen to provide "Treasury's current projection of the X-Date, along with how Treasury has arrived at this projection." So far, Treasury has said it expects it will need to begin borrowing money again by June 5, but has not explained publicly how it reached that date. McHenry also asked Yellen to provide a Treasury briefing to the committee by next week about federal debt management and "contingency planning."
'Fox News Sunday' on January 22, 2022
Rep. Brian Fitzpatrick, R-Penn., and Rep. Josh Gottheimer, D-N.J., discuss the latest news emerging from the classified documents seized from President Biden on'Fox News Sunday.' This is a rush transcript of'Fox News Sunday' from January 22nd, 2022. This copy may not be in its final form and may be updated. A new round of classified items found in the president's home and new concerns about financial fallouts as the U.S. hits the debt limit again. JIM CLYBURN (D-SC): We've had these games before and it should not be done. KARINE JEAN-PIERRE, WHITE HOUSE PRESS SECRETARY: The president has been clear on this. It should not be used as a political weapon. BREAM: Swing district, moderate Republicans are calling for the president to drop the take it or leave it approach and come to the table. We'll sit down for a bipartisan conversation with two co-chairs from the Problem Solvers Caucus. Republican Brian Fitzpatrick and Democrat Josh Gottheimer join me to talk about how to find consensus on the debt limit, immigration and more. Then -- thousands of pro-life advocates come to the nation's capital for the first March for Life since the Supreme Court overturned Roe v. Wade. We'll look at the legal state of play now that abortion laws are up to the states, and sit down for a conversation with prominent voices from both sides. And eight months after the unprecedented leak of a draft Supreme Court ruling, there are still no answers from the high court about the leaker. JIM JORDAN (R-OH): The only way you're going to stop this in the future is to make sure you find out who did it and hold them accountable. BREAM: We'll ask our Sunday panel if we will ever find out who did it. Breaking overnight, at least ten people are dead, another ten injured after a mass shooting near Los Angeles. It happened late last night at a dance club in Monterey Park, California, close to where a lunar New York celebration had been taking place. Authorities say they believe the shooter is male and at this time it appears that person is not in custody. Deputies say they are reviewing security video in that area. Monterey Park is about ten miles east of Los Angeles. We'll keep you updated on any developments we get in from there. Also breaking this morning, the Justice Department seized more classified documents from the president's private residence just this week. The news comes as President Biden prepares to speak in person with House Speaker Kevin McCarthy to discuss the new Congress, a range of challenges there, where they disagree. And that, of course, includes the debt limit. Congress is facing a deadline to strike a deal or risk a financial crisis as the Treasury department steps in to avoid a government default.
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