WASHINGTON (Reuters) – Talks between U.S. House of Representatives Republicans and Democratic President Joe Biden’s administration about raising the federal government’s $31.4 trillion debt ceiling have been paused, U.S. media quoted the lead Republican negotiator as saying on Friday.
“We’re not there,” multiple U.S. media outlets quoted Representative Garret Graves, House Speaker Kevin McCarthy’s designated lead negotiator in talks, as saying. “We’ve decided to press pause because it’s just not productive.”
The White House did not immediately respond to a request for comment. Graves’ office could be reached for immediate comment.
The Treasury Department has warned that the federal government could run out of money to pay its debts as soon as soon as June 1, potentially triggering a catastrophic default.
(Reporting by Katharine Jackson and Doina Chiacu; Editing by Scott Malone and Franklin Paul)