Washington (CNN) – President Barack Obama and top congressional leaders met for a fifth straight day Thursday as the White House said the negotiators will have to shift their focus to increasing the federal debt ceiling if they fail to make significant progress by Friday toward a comprehensive deficit reduction deal that would cut spending and raise taxes.
White House spokesman Jay Carney told reporters the same thing Obama said at the talks the day before - Friday is the deadline to decide whether a broad agreement on debt reduction is feasible at this time.FULL STORY
Washington (CNN) - House Majority Leader Eric Cantor has been a thorn in Democrats' side when it comes to the debt ceiling talks.
He has shown an unwillingness, critics argue, to agree to a deal that includes both spending cuts and raising revenue through tax loopholes - two things Obama has called for.FULL STORY
Washington (CNN)–President Obama told debt negotiators Wednesday afternoon he is setting Friday as a deadline to decide where the group is in the process of trying to reach a broad agreement on deficit reduction and an extension of the debt ceiling, said House Majority Leader Eric Cantor, according to Democratic sources familiar with talks.
"[President Obama] said we also need to get in the mode here because we're going to have to decide by Friday which way we're going. And really, he said, we ought to all start to think about things we can do rather than things we can't," Rep. Cantor told reporters after Wednesday's debt talks concluded.
CNN Congressional Correspondent Kate Bolduan contributed to this story.
WASHINGTON (CNN) - A day after Senate Republican Leader Mitch McConnell proposed a backup plan to raise the debt ceiling if a deficit reduction deal with Democrats can't be reached, House Majority Leader Eric Cantor torpedoed the proposal, saying it doesn't have any chance of passing in his chamber.
"Currently, there is not a single debt limit proposal that can pass the House of Representatives," Cantor, R-Virginia, said in a statement Wednesday. Though the statement does not directly refer to McConnell's plan, Republican congressional sources said Cantor intended to make the point that the Senate GOP leader's proposal is not going anywhere in the House.FULL STORY
Washington (CNN) - A fourth straight day of talks intended to head off a possible government default ended on a tense note Wednesday, with House Majority Leader Eric Cantor saying President Barack Obama cut him off by saying "I'll see you tomorrow" before walking out.
The exchange concluded almost two hours of talks that failed to achieve a breakthrough. Another session - the fifth in five days - was set for Thursday, participants said.FULL STORY
WASHINGTON (CNN) – House Majority Leader Eric Cantor said Tuesday that President Barack Obama provided further details of his plans for entitlement reforms at the latest round of deficit reduction talks at the White House.
Cantor said Republicans support what the President laid out in terms of entitlement cuts. However, the Virginia Republican said his GOP colleagues in the House won’t support any tax revenue increases.
Washington (CNN) - Before returning to the White House to resume negotiations on a deal to raise the debt ceiling, number two House Republican Eric Cantor, R-Virginia, insisted Republicans will continue to oppose any tax increases as part of deal to raise the debt ceiling, telling reporters, "our members did not come here to raise taxes."
Cantor highlighted the current unemployment rate of 9.2 percent and held up a piece of paper showing a quote from Obama in 2009, when he spoke out against raising taxes in a recession.
(CNN)-A day before congressional leaders meet with President Barack Obama to discuss how to raise the debt limit, the number-two House Republican opened the door to possible compromise, saying Wednesday he is open to closing some of the tax "loopholes" that Democrats have been pushing, but only if those items are offset by reducing taxes in other areas.
"If the president wants to talk loopholes, we'll be glad to talk loopholes," House Majority Leader Eric Cantor said at his weekly session with reporters on Capitol Hill.
Washington (CNN) – I guess we shouldn’t be too surprised that Vice President Joe Biden’s efforts to work out a deficit reduction deal with House Majority Leader Eric Cantor and Senate Minority Whip Jon Kyl collapsed over the issue of raising taxes on the wealthy.
Republicans are firmly opposed to raising taxes on anyone. Democrats want to see those families making more than $250,000 a year pay more income tax.FULL STORY
Washington (CNN)-With only weeks to go before the country hits the debt ceiling, bipartisan negotiations were on the verge of collapsing as one of two Congressional Republicans walked away from the talks, and the other was unclear about future discussions.
House Majority Leader Eric Cantor withdrew from the negotiations Thursday, saying they had reached an impasse with Democrats over tax issues and it was time for President Obama to get involved to broker a deal that would pave the way for a vote to raise the debt ceiling this summer. Arizona Republican Senator Jon Kyl said that it would be difficult to continue negotiations with only one Republican at the table.