BUDGET/DEMS/HOUSE OF REPS/TREASURY/TRUMP AS PRESIDENT: “Speaker Nancy Pelosi, Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer and House Minority Leader Kevin McCarthy have agreed to begin negotiations on a two-year deal to lift stiff budget caps, according to multiple sources familiar with the talks. The ‘Big 4’ congressional leaders will meet with top White House officials next week to formally kick off the discussions, which have the support of President Donald Trump, said the sources. The GOP leaders are also pushing for an increase in the debt limit but do not want to formally link it to a budget caps deal. The issue is sure to be part of next week’s session. Democrats have wanted to link the debt ceiling increase with the budget caps, believing that would increase their leverage in the negotiations. But McConnell, McCarthy and the White House do not want to handle them together. The federal government will hit the debt limit sometime this fall, according to Treasury Department projections.”
–John Bresnahan and Sarah Ferris, “‘Big 4’ leaders to begin talks with White House on ambitious budget deal, “ Politico, May 17, 2019 1:18 pm