Time For Another Budget Showdown

WASHINGTON, DC - JANUARY 23: (L-R) U.S. House Minority Leader Nancy Pelosi (D-CA), Senate Minority Leader Chuck Schumer (D-NY), Senate Minority Leader Mitch McConnell (R-KY) and House Majority Leader Kevin McCarthy ... WASHINGTON, DC - JANUARY 23: (L-R) U.S. House Minority Leader Nancy Pelosi (D-CA), Senate Minority Leader Chuck Schumer (D-NY), Senate Minority Leader Mitch McConnell (R-KY) and House Majority Leader Kevin McCarthy (R-CA) talk at a reception held by President Donald Trump for House and Senate Republican and Democratic leaders in the State Dining Room of the White House January 23, 2017 in Washington, DC. (Photo by Ron Sachs-Pool/Getty Images) MORE LESS
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May 21, 2019 8:09 a.m.

The four congressional leaders are meeting with Treasury Secretary Steve Mnuchin, acting OMB Director Ross Vought and acting White House Chief of Staff Mick Mulvaney Tuesday morning at House Speaker Nancy Pelosi’s (D-CA) office to talk budget.

The task on the table? Agree on spending caps and lift the debt limit, per Politico. If the two sides can’t play ball, punishing spending cuts known as a “sequester” kick in during early 2020.

As usual, Republicans want to beef up military spending while Democrats want parity between military and domestic funding.

If they can’t come to an agreement, they can kick the can down the road until December. And based on the utter lack of cooperation over smaller legislation this session, like the disaster relief bill, the odds don’t look great.

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