Pelosi ready for deal on borrowing limit, spending levels

House Speaker Nancy Pelosi of Calif. listens to a question as she meets with reporters on Capitol Hill in Washington, Thursday, July 11, 2019. (AP Photo/Andrew Harnik)

WASHINGTON — House Speaker Nancy Pelosi says she wants to complete a deal with President Donald Trump this month that would raise the government's borrowing limit and set spending levels for the coming budget year.

Pelosi's office says the California Democrat spoke twice with Treasury Secretary Steven Mnuchin on Thursday, and she told reporters she is convinced the double-barreled negotiation needs to be completed before Congress leaves Washington for its August recess.

Mnuchin has been urging lawmakers to raise the so-called debt limit soon, warning that the government risks defaulting on U.S. obligations in early to mid-September. Pelosi and Capitol Hill GOP leaders want to pair the unpopular debt measure with a new spending "cap" for the approximately $1.3 trillion in agency budgets appropriated by Congress each year.

Must Read

California lawmakers approve extension of climate...

Aug 25, 2016

California lawmakers have approved a 10-year extension of the state's landmark climate change law

Brazil's president proclaims innocence at...

Aug 30, 2016

Brazil's suspended president proclaims her innocence at her impeachment trial, brands her VP a...

Iowa at center of debate over 'shadow insurance'...

Aug 30, 2016

Life insurance companies are setting up "shadow insurers" to take on some of their liabilities and...

US average 30-year mortgage rate rises to 3.46...

Sep 1, 2016

Long-term U.S. mortgage rates rose this week amid expectations in financial markets that an...

Clinton offers plan to prevent 'excessive' drug...

Sep 2, 2016

Hillary Clinton is pledging to better protect patients from steep increases in the cost of drugs

About Us

The World Insiders brings you exclusive coverage from across the globe in a timely, easy to consume format sourced directly from our regional media partners.

Contact us: sales[at]theworldinsiders.com

Subscribe Now!