Republican negotiators have reportedly warned that a “significant rift” remains between them White House And GOP legislature about a deal to increase the credit limit with Rep. Garret Graves (R-La.) Conversations about important topics are comparable to buying a used car.

Talks between the two sides on Tuesday were inconclusive and Wall Street showed signs of cracking, with major indices falling over 1%.

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Significant gap: GOP negotiators Graves and representative Patrick McHenry (RN.C.) told reporters late Tuesday afternoon that the fundamental issue was the level of discretionary spending. after to a report by The Hill.

“There is a significant gap between our financial health and the financial health of the companies,” Graves said. “Until the White House recognizes that this is a spending issue, there will continue to be a significant gap.”

No plans for further meetings with White House officials have been announced so far following Tuesday’s talks, but Republicans said they plan to remain in the Capitol, noting the White House team is welcome back if they meet want to meet, says the report.

‘Used cars’: Although Graves pointed out that there was significant progress in some areas, he said the conversations about the key issues were similar to the process of buying a used car.

“They’ll say, ‘Well, I need to talk to my manager – I’m sorry, the manager won’t lower the price, but he’ll throw in the car mats.’ “That’s not enough,” Graves said. “And I feel like we went through some of that replay, which is inappropriate. We need to be able to have competent negotiators in the room.”

Republicans flatly rejected White House proposals to boost revenue through tax increases or expand Medicare’s ability to negotiate drug prices, the report said.

Though some Republicans in the House of Representatives had doubts Treasury Secretary Janet Yellen predicts that the US could not meet its payment obligations Debt obligations as early as June 1stGOP…