Finance
Biden Loses Debt-Limit Leverage as Business Groups Push for Talks With McCarthy
President under pressure to do deal on US debt ceiling amid calls for $5 trillion in spending cuts
US President Joe Biden is under increasing pressure from business groups to negotiate with Speaker Kevin McCarthy on the US debt limit, a blow to the White House’s goal of avoiding talks with Republicans on raising it.
Some White House officials had wanted business groups to pressure McCarthy to take the possibility of a catastrophic debt default off the table. Such groups have traditionally held sway over Republican lawmakers, though their influence waned during Donald ...
