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."
Most U.S. cities would have to replace lead water pipes within 10 years under strict new rules proposed by the Environmental Protection Agency as the Biden administration moves to reduce lead in drinking water and prevent public health crises like the ones in Flint, Michigan and Washington, D.C.
Former Secretary of State Henry Kissinger, the diplomat with the thick glasses and gravelly voice who dominated foreign policy as the United States extricated itself from Vietnam and broke down barriers with China, died Wednesday, his consulting firm said. He was 100.
Officials in a rural Arizona county who delayed canvassing the 2022 general election results have been criminally charged, the state's top prosecutor said Wednesday.