Rep. Jim Banks: Debt limit would be "major leverage point" for House GOP majority
CBSN
Washington — Republican Rep. Jim Banks of Indiana signaled Thursday that the GOP could use the looming debt limit as a negotiation tool with President Biden early next year should the party win back the majority in the House in November's elections.
"It's a major leverage point for the House Republican majority to use to control spending," Banks said. "We've seen the national debt now surpass $31 trillion. It is a key driver of inflation."
While some Republicans view the debt limit as a means to help rein in spending, failure to raise or suspend the debt ceiling in a timely manner could cause the U.S. to default on its debt, which would have devastating consequences for the economy.
Best Buy CEO Corie Barry said Tuesday that personal electronics could become more expensive if President-elect Donald Trump carries out his threat to slap new tariffs on foreign goods, as large retailers scramble to assess the potential impact of the proposed levies on their business.
A California man who prosecutors alleged lied to federal agents and pushed fake criminal allegations against President Biden and his son Hunter now faces new charges of tax evasion from special counsel David Weiss, according to court records.
NEW YORK - Former New York City Mayor Rudy Giuliani appeared in court Tuesday to face questions about his payments in the Georgia election defamation case.
Child care in the U.S. today can cost more than families pay for rent, a mortgage or college tuition
The soaring cost of child care in the U.S. can now exceed what families pay for housing or college.
Americans say they're most grateful for friends and family this year.
Mexico suggests it could retaliate with tariffs after Trump threat: "There is no subordination here"
President Claudia Sheinbaum suggested Tuesday that Mexico could retaliate ———with tariffs of its own, after U.S. President-elect Donald Trump threatened to impose 25% import duties on Mexican goods if the country doesn't stop the flow of drugs and migrants across the border.
Walmart's decision to roll back some of its diversity, equity and inclusion policies nationwide are designed to "ensure every customer, every associate" feels welcome and like they belong, according to John Furner, president and CEO of Walmart U.S.
Captain Ed Evans began his day well before dawn, preparing Southwest flight 8921 for a nearly 19-hour journey. The year-old Boeing 737 MAX8 flew over 4,000 miles, traveling from Baltimore to Denver, Long Beach, Reno, Las Vegas, Sacramento and back to Las Vegas.
Tom Homan, selected by President-elect Donald Trump to be the "border czar" in the new administration, is traveling Tuesday to the U.S.-Mexico border with Texas Gov. Greg Abbott, Abbott's office said.
A special agent at the Federal Bureau of Investigation has been charged with sexually assaulting two women, according to police and court records. The agent, Eduardo Valdivia, was previously acquitted of attempted murder for shooting a man on a Metro subway train near Washington, D.C., four years ago. He was arrested in Maryland on Monday.
Married couples across the U.S. have had access to no-fault divorce for more than 50 years, an option many call crucial to supporting domestic abuse victims and key to preventing already crowded family courts from drowning in complicated divorce proceedings.