Debt Ceiling Negotiations Stall on Spending Cuts as Deadline Nears

Talks over raising the U.S. debt limit ahead of the June 1 deadline have stalled over the issue of 2024 limits on federal discretionary spending.
White House negotiators Steve Ricchetti, counselor to the president, and Shalanda Young, director of the Office of Management and Budget, have been meeting with Reps. Garret Graves (R-La.) and Patrick McHenry (R-N.C.) to work out an agreement.
In exchange for raising the debt limit, Republicans are seeking to enact the provisions of their Limit, Save, Grow Act, which was approved by the House in April.
The bill aims to limit the total of 2024 federal discretionary spending to the 2022 level, limit spending increases to 1 percent annually, increase work requirements for some recipients of Medicaid and the Supplemental Nutritional Assistance Program (SNAP), claw back unspent COVID-19 funds, and loosen permitting requirements for oil and gas….}