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McCarthy Can 'See Debt Limit Deal On Floor Nxt Wk'; 'At Much Better Place'

US

Wires carrying comments from House Speaker Kevin McCarthy (R-CA) talking up the prospect of a deal on the debt ceiling. Says that he 'sees [a] debt limit deal on the House floor next week', adding that 'we are at a much better place than a week earlier, I can see now where a deal can come together'.

  • These are the most positive comments to have emerged from the seniormost GOP figure in negotiations. There remains the prospect of having to win bipartisan moderate support for any deal, with hard-line Republicans in the House Freedom Caucus having the potential to vote down any deal that does not adhere to the GOP's initial demands from the White House on spending cuts.
  • Should a deal pass the House it would require the support of 60 senators to get over the line. While Senate majority leader Chuck Schumer (D-NY) has raised his own concerns with the GOP demands regarding the budget, it appears unlikely that he would be able to stop the requisite 10 Democratic senators from joining with the GOP to pass an increase in the debt limit if a deal were on the table.
  • For more detail on debt limit negotiations please see our US daily brief: https://marketnews.com/mni-political-risk-analysis...
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