The Impending Debt Ceiling Crisis: What You Need to Know.

Negotiations between Congress and the White House on the debt ceiling are inching towards a deal, but outstanding issues remain, including spending freezes or cuts. Democrats want a hike to the debt ceiling past the 2024 election with as few conditions as possible attached, while Republicans are looking for spending caps, changes to energy permitting, tightened work requirements for food aid recipients, and clawing back unspent Covid dollars. The June 1 deadline is looming, and some Democrats are getting antsy, while some Republicans are holding fast to the position that President Joe Biden shouldn’t be making any concessions on spending cuts.