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The Guardian - US
The Guardian - US
World
Guardian staff and agency

Biden, McCarthy agree to raise US debt ceiling – what’s in the deal?

Joe Biden Kevin McCarthy United States
Kevin McCarthy and Joe Biden. The debt ceiling deal will affect discretionary spending, Covid funds and social programs.
Kevin McCarthy and Joe Biden. The debt ceiling deal will affect discretionary spending, Covid funds and social programs. Photograph: Alex Brandon/AP

Joe Biden and Kevin McCarthy have reached an agreement to lift the US debt ceiling and avoid a disastrous and unprecedented default. Prior to the details being presented to lawmakers, ahead of an expected vote on Wednesday, here is what sources familiar with negotiations have revealed:

Cap on discretionary spending

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