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Negotiations over a bipartisan deal to increase the United States’ debt limit appear to have faltered to the point that the Biden administration and House Republicans are focusing their public efforts on blaming the other side for the impasse, rather than working toward a final agreement.
President Biden and House Speaker Kevin McCarthy are set to speak on the phone as Biden flies back to Washington from the G-7 summit in Japan.
Speaking after the G-7 concluded, Biden repeated his accusations that Republicans were to blame for the deadlock. “It’s time for the other side to move off extreme positions because much of what they’ve already proposed is simply, quite frankly, unacceptable” he said.
Biden said that he was willing to cut spending, but said Republicans needed to consider raising tax revenues.
