GOP negotiators hit ‘pause’ on debt talks

Speaker Kevin McCarthy’s lead negotiator on the debt limit said Friday he plans to “press pause” on talks with the White House, a snag that imperils both parties’ efforts to reach a default-averting deal as soon as this weekend.

Rep. Garret Graves (R-La.), one of McCarthy’s deputies, has been meeting since early this week with President Joe Biden’s negotiators as both parties race to a fiscal deal designed to avert an economy-crushing default which could hit as soon as June 1.

“We’ve decided to press pause, because it’s just not productive,” Graves told reporters in the Capitol as he left a meeting that had begun around 10 a.m. on Friday. He was joined by House Financial Services Chair Patrick McHenry (R.N.C.).