Biden Group Sets July 1st Deadline For Budget Agreement

Joe Biden

The group of six legislators huddling with Vice President Joe Biden have given themselves a July 1st deadline to come to a a budget agreement, National Journal reports.

The group is amping up talks this week and plans to work “around the clock” next week.

Democrats have demonstrated a willingness to cede to GOP spending cut demands, if the GOP will agree to some revenue increases. The talks are stuck on the question of whether to raise taxes to help close the hole.

Observers remain sceptical of the Biden Group’s ability to reach a budget agreement before the August 2nd debt ceiling deadline. The Biden Group says that it will either reach an agreement by July 1st or disband.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.