Debt limit negotiations remain tense between Biden and Republicans.

President Biden criticized Republicans for "holding the economy hostage" by refusing to negotiate over spending reforms as part of a package to raise the debt limit. Democrats and the Biden administration insist on a "clean" debt ceiling bill that contains no cuts to federal spending levels. A bipartisan compromise will be necessary for any debt limit increase to become law, given Democrats’ control of the White House and Senate and Republicans holding the majority in the House and retaining the ability to filibuster legislation in the Senate. Lawmakers will likely need to reach a deal next week to give both chambers of Congress the necessary time to move a debt limit bill.