The U.S. has surpassed its $31.4 trillion debt limit, leading the Treasury Department to implement extraordinary measures.
Treasury Secretary Janet Yellen notified Congressional leadership Thursday morning that she would begin implementing stopgap options to keep the government funded and avoid default. However, she has stressed the measures can only be used for a limited amount of time, likely through June.
Yellen has said it’s critical Congress act in a timely manner, warning that failure to address the debt ceiling would cause irreparable harm to the U.S. economy.
"I respectfully urge Congress to act promptly to protect the full faith and credit of the United States," Yellen wrote in Thursday’s letter to congressional leaders.
Republicans, led by House Speaker Kevin McCarthy, are looking to use the additional time to negotiate with Democrats; they are hoping to cut spending in exchange for raising the debt ceiling. But, Democrats are so far refusing to make concessions.
"It is something that should be done without concessions. We should not be negotiating around it," White House Press Secretary Karine Jean-Pierre told reporters Wednesday. "It is the basic duty of Congress to get that done."
For the fourth time in a matter of weeks, a bus carrying migrants from Texas arrived in Los Angeles late Tuesday night.
The U.S. Drug Enforcement Administration’s second-in-command has quietly stepped down amid reporting by The Associated Press that he once consulted for a pharmaceutical distributor sanctioned for a deluge of suspicious painkiller shipments and did similar work for the drugmaker that became the face of the opioid epidemic: Purdue Pharma.
The Biden administration on Wednesday proposed new guidelines for corporate mergers, took steps to disclose the junk fees charged by landlords and launched a crackdown on price-gouging in the food industry.
Former Secretary of State Henry Kissinger made a secret trip to China to meet with leaders.
Travis King, a private 2nd Class U.S. soldier, was identified as the individual that crossed the North and South Korean border earlier this week.
Several civil rights groups are suing Florida Gov. Ron DeSantis over his new immigration laws.
A judge in Iowa temporarily blocked the state's six-week abortion ban.
A U.S. national is being held in North Korea after crossing its closely-guarded border with South Korea.
The Biden administration and major consumer technology players on Tuesday launched an effort to put a nationwide cybersecurity certification and labeling program in place to help consumers choose smart devices that are less vulnerable to hacking.
Former President Donald Trump said Tuesday that he has received a letter informing him that he is a target of the Justice Department's investigation into efforts to undo the results of the 2020 presidential election, an indication that he could soon be indicted by federal prosecutors.
