Debt talks collapse, Republicans walk out over taxes

◼ U.S. budget talks collapsed on Thursday after Republican negotiators walked out, throwing doubt on Washington's ability to reach a deal that would allow the government to keep borrowing and avoid a debt default. - Reuters

Representative Eric Cantor, the No. 2 Republican in the House of Representatives, said participants had identified trillions of dollars in potential spending cuts but were deadlocked over tax increases sought by Democrats. Republican Senator Jon Kyl also pulled out, according to an aide.

"Regardless of the progress that has been made, the tax issue must be resolved before discussions can continue," Cantor said in a statement.

◼ Eric Cantor Pulls Out. So does Jon Kyl. It Distracts From the Big Story. - Redstate
◼ Eric Cantor and Jon Kyl Pull Out Of Biden's Budget Deficit Talks-Boehner Backs Them Up - The Lid