Debt Ceiling Talks: Biden Opens to Rescinding Billions in COVID Funding

President Biden is considering utilizing the 14th Amendment to navigate the current debt ceiling standoff with House Republicans.
    • He has refused to rule out a short-term debt limit increase, insisting that default is not an option.
 Despite his insistence, Biden revealed that not all negotiators have committed to avoid default saying that only three of the five participants agreed that a default was off the table.  Biden expressed openness to one key GOP ask: Rescinding tens of billions of dollars in Covid funding.
    • When asked: “The answer is, I’d take a hard look at it,” and that “it’s on the table.”
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