Congress squabble over debt ceiling as risk of default inches closer

Kevin McCarthy kickstarted talks with the White House, but his proposal may not even have the Republican votes to move forward

As hundreds of millions of Americans faced a deadline on Tuesday to file their annual tax returns, Congress continued to squabble over paying its own bills.

Tax Day came and went this week without lawmakers reaching an agreement on lifting the debt ceiling, the US government's borrowing limit to cover all of its financial obligations. Experts have warned that failure to lift or suspend the debt ceiling could have catastrophic consequences for the US economy, which would be felt in every American household.