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Executive Summary:

  • President Biden will meet Congressional leaders for a debt limit summit at the White House tomorrow but time to strike a deal is tight with both chambers of Congress only in session together for four days ahead of the Treasury's June 1 ‘X-date.’
  • President Biden is scheduled to depart Washington for Japan on Wednesday, but the White House has indicated that Biden’s subsequent travel to Australia and Papua New Guinea may be cut, if progress isn’t made at White House talks tomorrow.
  • Biden appeared to concede for the first time that 'negotiations' are now taking place in upbeat remarks to reporters yesterday. "It never is good to characterize a negotiation in the middle of a negotiation,” Biden said.
  • Senate Majority Leader Chuck Schumer (D-NY) may advance the nomination of Labor Secretary candidate Julie Su, as soon as this week.
  • US Ambassador to South Africa, Reuben Brigety, has apologised for claiming that South Africa covertly sold weapons to Russia.
  • There is only USD$6b left in the Ukraine assistance fund, potentially teeing up a Congressional showdown in the summer.
  • Poll of the Day: President Biden’s poor run of approval continues.

Please find the full article attached below:

MNI POLITICAL RISK ANALYSIS - US Daily Brief 15-05-23 .pdf

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